POW is a recipe for centralization
POW is a recipe for centralization
Bitcoin is not decentralized anymore and it is becoming less decentralized the longer it exists. Miners can switch with the push of a button to another network.We depend on miners that run our network, and so, they are in power and control the ones who need them to calculate our transactions.
The miners used to be us, the community, the everyday user, you! Today we have mining pools that "own" big amounts of hashrate and thus control the network.
For a decentralized currency, it is my opinion that the mining pools have too much control of our currency and that we depend too much on them!
How can you transfer your currency when no one is willing to do the work for you.
If a Chinese mining pool with over 30% of the total hashrate would stop mining because its not in their favor, you are stuck. These are not charity workers. They run a business and WILL choose themselves when necessary.
Stop trying to follow someone who is not there to lead and think for your own.
The bitcoin community is fighting over what satoshi ment in his whitepaper. But, satoshi is not a messiah and his whitepaper not the bible.
He made this community possible! He planted a seed, took care of it until it was strong enough to grow on its own and left. His work is done..
The bitcoin community is fighting against the community, but why? We get butthurt when someone dissagrees with our fundamental ideas and so we ridicule them.
How is that solving any problem?
The bitcoin community is a stubborn community and they ridicule the altcoin community for exploring new ways to grow to.
I am thankful for bitcoin, because every other digital currency was created because of its creation, but i strongly disagree with its current state.
And even though Bitcoin has been the leading decentralized digital currency since its excistence, it is losing its grip.
It is losing, because it stopped taking risks, it stopped trying to evolve, it stopped taking the lead. Yes, the marketcap of bitcoin has grown, but not because of its leading technological enhancement. It is a well known brand and even grandma starts to get curious once it gets promoted by her favorite news anchorman.
She doesn't believe in the technology once the marketcap tanks 50%. But that will not matter, the question is, will you?