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RE: Centralization of Cryptocurrency - Bitcoin, Ethereum, and EOS

in #eos7 years ago

Although I love the idea of a decentralized monetary system, if I look at the situation pragmatically, it's only a matter of time before any currency which attains any serious level of wide reaching acceptance becomes centralized. He who owns the gold make the rules, and make no mistake about it, the governments own the gold.

I agree that some common ground can be found and that centralization makes a lot of sense on many fronts, but any system that's adopted without actual human voting has no chance of not becoming the corrupt and totally manipulated clown show that we deal with in the financial markets today. The smaller the market is, the easier it can be manipulated. Centralization brings with it the type of money needed to maintain some level of free market functionality. Main stream acceptance and the flooding of new money into the space from people all over the world would give us some level of freedom in the crypto market. That is my hope for crypto. To allow humanity to have as much monetary freedom as possible for as long as possible. I know in my heart, eventually, the big money will control this space like it does everything else, but if we can maintain the peer to peer functionality without the debilitating fees we face today, it will be a huge win for us all.

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