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Did anyone bother to calculate the inefficiencies caused by a centralisation or federalisation and whether they justify all the effort that is going into bitcoi
by lumberjack 11y ago
Did anyone bother to calculate the inefficiencies caused by a centralisation or federalisation and whether they justify all the effort that is going into bitcoin and other decentralization technologies?
Who is to say that a more transparent federalised system wouldn't be more or less on par with the bitcoin blockchain in terms of power centralisation?
- sp332 11y agoBitcoin is now effectively a federated system anyway. Miners coordinated to fix a hard-fork situation, which means they have the power to favor or disenfranchise certain people. They don't seem to have that motivation at the moment, but it's very possible. E.g. https://twitter.com/Datavetaren/status/631080568487342080 https://twitter.com/Datavetaren/status/631080568487342080
- lumberjack 11y agoThat's was exactly my point. Bitcoin is not as decentralized as it was envisioned to be so maybe there are other sorts of federalized systems that can be just as good and easier to implement.
- grubles 11y agoFurther down the twitter convo: https://twitter.com/TheBlueMatt/status/631715218788360192 https://twitter.com/TheBlueMatt/status/631715218788360192
- zby 11y agoThe centralized systems are more efficient. Is that a typo in your comment? Assuming that you mean calculating the inefficiencies caused by decentralization - that is easy - it is the whole mining industry. A centralized server would not need this proof of work effort to timestamp a ledger.
- CyberDildonics 11y agoLet me know when you think that might happen. Whos to say what fictional future system might be better then the system that is literally working right now.