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Wasn't part of the promise of Bitcoin that no single entity or cabal would control it? It would be a distributed platform, owned by the masses?
by tonysdg 8y ago
Wasn't part of the promise of Bitcoin that no single entity or cabal would control it? It would be a distributed platform, owned by the masses?
- qbrass 8y agoThe promise was that no single entity would want to control it since nobody else would want Bitcoin if they did.
- Brockenstein 8y agoWhich won't stop someone from trying to ride that line if that promise carries any connection with reality. Or the promise is just naive and once people are invested in using it they'll refuse to give up the value and will tolerate single entity control.
- kazagistar 8y agoThat's a dumb promise, since all it takes is one third party with the desire and means to control multiple entities for non financial reasons; for example, a state actor with treaties and regulations.
- conanbatt 8y agoThey would not be able to capture it unless they get consensus.
- mkirklions 8y agoThis electricity is used to verify transactions. I dont know how much electricity is used at Visa or the federal reserve to print money. But everything requires resources.