4 ms·
Interestingly, the way things are right now, when it comes to governance model on a global scale, the Big Bad Banks are more decentralized than Bitcoin or any o
by delegate 9y ago
Interestingly, the way things are right now, when it comes to governance model on a global scale, the Big Bad Banks are more decentralized than Bitcoin or any other crypto currency.
Even if it weren't so, I still don't get why total decentralization is an absolute good thing.
Nature seems to be a symbiosis between centralized and decentralized systems - at every level; extremes (too much or too little centralization) will lead to isolation/extinction or explosion/implosion - think biological systems or stars in galaxies.
I disagree with my crypto anarchist friends who believe that changing the money system will change society (eg. society is a function of money) and I tend to think that the relationship is more symbiotic - society has to change in order for the money to take other roles.
Even so, given human nature, it is not clear if a totally decentralized monetary system is a good thing for society as a whole.
People trust 'authorities' more than they trust math written by a bunch of 'core' devs and that's because the former can easily apply brute force and coerce the latter. Yes, we're still primates and the bigger/stronger argument is still valid.
So I don't think Bitcoin will dramatically change society, but some form of symbiosis between the current banking system and the crypto currencies will emerge eventually - and then we can talk about centralization at a whole different level. Either way, there's no escaping it.