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How many tech people really believe that bitcoin is entirely decentralized - which I guess is the argument you are trying to make? I wish everyone could be hon
by SlowRobotAhead 8y ago
How many tech people really believe that bitcoin is entirely decentralized - which I guess is the argument you are trying to make?
I wish everyone could be honest with the fact that there are a dozen people or so that in one method or another could demolish bitcoin if they really wanted to. (Shutting down some exchanges, a couple well placed bad changes, the unknown creator, etc)
- bitxbitxbitcoin 8y agoI agree with both your points but just want to posit a slight counter. There's also the "fact" that there are maybe more than a dozen people or so that in one method or another could demolish USD or EUR or whatever fiat currency, as well. Couple that with the fact that over time, the number of such influencers over Bitcoin should, as it has historicallly, decrease faster than the same number for fiat currencies. Just saying that at least partially explains the exuberance with which people are participating in the Bitcoin experiment.
- anigbrowl 8y agoDon't forget that people have previously seen the possibility of financial liberation by cultivating tulip bulbs and other oddities of market-centric thinking.
- SlowRobotAhead 8y agoWell, I mean, there are at least supposed to be checks and balances with US currency. It’s a literal universal interest that the USD be stable. A dozen people at the FED or executive shouldn’t be able to ruin the dollar at least in any comparison to how fast a niche crypto commodity could be ruined. That said... we went through at least three rounds of QE directed by the last administration. So, maybe you’re right.