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RE: Get Ready for a World Currency
Yes, which is why global cryptocurrency is a good thing. It keeps globalists from being able to control it.
Yes, which is why global cryptocurrency is a good thing. It keeps globalists from being able to control it.
But only if the global cryptocurrency is truly decentralized in terms of not having a winner-take-all power vacuum control over the consensus algorithm. No such cryptocurrency yet exists afaik (although I’m working on it).
Afaics, Bitcoin is not and never will be truly decentralized. It is controlled by the whales by proof-of-stake (not proof-of-work!). I explained this in my latest blog: The Real Bitcoin: which Bitcoin fork will win?
If one can argue that the largest whale does not eventually accrue 51% (and then 100%) of all BTC, then they could posit that Bitcoin is decentralized because the whales prevent each other from defecting because (as I explained in the blog post linked above) all forks will be sold by all whales.
However, I have explained in detail elsewhere that it appears the largest whale can accumulate BTC faster than the smaller whales can, for various reasons. Thus it is a winner-take-all power vacuum. The detailed debate/discussion on this should probably take place in a dedicated blog post or forum thread.
Identities are Sybil attackable in proof-of-work (which is desirable is some others respects), so we will never know if Bitcoin is centralized until it is successfully forked because due to the game theory it can’t be successfully forked otherwise, where by “successful” we mean the new fork has a higher proof-of-work difficulty than the legacy chain.