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RE: Is Bitcoin Truly 'Decentralized'

in #cryptocurrency5 years ago

Thanks for your post, BTC can not be "truly decentralized" by design. BTC is based on POW. Bitcoin core team took a wrong turn back in the days allowing ASIC miners in (they invited the devil into the house). Because we have 10-20 ASIC mining factories verifying all transactions on the bitcoin network, these factories are our new de facto banks. As such, BTC is enviromentally unfriendly, can be heavily influenced by countries where teh mining factories are situated in. Do we want that?

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Hi drdmd, thanks for your reply. Yes thats a good point, I missed . I just hope we dont end up from the frying pan into the fire!

Np, just a heads up. All POS coins are way more decentralized and much much better equipped both for the future and definitely more environmentally friendly than bitcoin. Bitcoin is just an entry coin for new people, but after a while, they wake up and smell the elephant that bitcoin actually represents. We need to drain the swamp. Thanks for your posts.

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