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I mean, it is decentralized... The only difference is the member companies are publicized and we know who their CEOs are, whereas the mining pools that account

I mean, it is decentralized... The only difference is the member companies are publicized and we know who their CEOs are, whereas the mining pools that account for the grand majority of Bitcoin's hashrate, for example, are virtually nameless to the general public.

gerikson 7y ago
The banking system is decentralized too, but the word has a specific meaning in cryptocurrency circles - which I think Libra is invoking. I do agree that currently the Bitcoin mining/transaction system is centralized to a few very large mining pools.