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> Bitcoin might theoretically be based on distributed trust, but in practice, that's just not true. I'll grant that Bitcoin is not perfectly centralized. But
by deweller 8y ago
> Bitcoin might theoretically be based on distributed trust, but in practice, that's just not true.
I'll grant that Bitcoin is not perfectly centralized. But I challenge you to find a more decentralized digital currency on the planet.
A digital currency doesn't need to be 100% decentralized to be very useful as a digital medium of exchange.
- walterstucco 8y agoWhat's the advantage? None
- notahacker 8y agoIt depends on your definition of "useful". It doesn't need to be 100% decentralised to allow exchange to take place without a single technical point of failure existing, but it probably does need to be substantially more decentralised than it actually is to not actually have bigger trust issues than traditional currency (at least for people trying to carry out legal transactions in a developed world financial system).