Will Decentralization Conquer the Big Brother Panopticon?

in bitcoin •  13 days ago

We've recently moved past the Segwit2X fork and I think the war for control has just begun. The nice thing about bitcoin is that it replaces big brother panopticon with mathematical fairness and certainty. Who wouldn't want this? Those who seek control. In fact, Andreas Antonopoulos recently published a short video on this subject of "Money as a System of Control"...

Bitcoin's resilience owes to the fact that it is decentralized using a series of game theoretical incentives that make it more profitable to play by the rules while punishing violation of those rules. But at the same time, it can be incredibly inefficient. Authority will argue that they can get things done much faster, but it carries a stiff price: loss of freedom.

Andreas has argued that increasing of block sizes, while the obvious engineering solution, is the wrong approach because it's "a race that can't be won". Lightning Network takes the idea of on chain transactions as only being necessary to resolve disputes; sort of like a court system. Is 1 MB enough to resolve all these disputes? Perhaps BCH (bitcoin cash) which is doing so well now after the news will eventually replace "bitcoin classic".

The advantage is that if transactions are off chain, then it becomes a much more privacy friendly environment for trade. The argument for the big block size has to do with quicker transaction verification (moot if LN comes online) and greater profits for exchanges.

I see a lot of misinformation out there such as "bitcoin wastes electricity so it environmentally unfriendly" while the same people never bother to compare this to the radioactive waste of nuclear power plants. They of course are unaware of new algorithms such as the Iota "tangle" and DPoW (distributed proof of work) concepts that may make proof of work obsolete.

If you want to worry about something, it should be FedCoin or the SDR. Authority has been trying to create a system like bitcoin for decades, but without the decentralized, censorship resistant, borderless, opensource protocol that instead replaces mathematical certainty and fairness with big brother panopticon. If we don't educate ourselves on this most important of inventions, then our future is going to be absolutely miserable because authority is getting ready to snuff out dissent at the bank.

Bitcoin and several of the altcoins will not be able to be under government control. We saw how Segwit2X failed... imagine the government forking off their own chain? Who's going to join FedCoin? Only the idiots, but there's a lot of them out there.


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