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I see a lot of centralised digital currency projects gaining traction in the current bull market. The innovation of Bitcoin was the game theoretical incentive
by gillesjacobs 6y ago
I see a lot of centralised digital currency projects gaining traction in the current bull market.
The innovation of Bitcoin was the game theoretical incentive of mining to teach consensus on blockchain state. It would cost you more to attack the network than to cooperate.
The whole value add over traditional money is the decentralised nature of cryptocurrencies. For code platforms it is the potential of fully autonomous apps that operate as long as people are paying for their use without central control.
It is sad to centralised chains take off such as the Binance Smart Chain that runs on delegated proof-of-stake on just 21 validators picked by Binance.
You are just playing with someone else's funny money that they control.
- harwoodleon 6y agoBitcoin is not money. It’s a system of value transfer. Nano is money, as you and I know it. Nakomoto Coefficient of nano is on a par or higher than bitcoin without the centralising forces behind mining and the insane fees.
- donutloop 6y ago> It’s a system of value transfer. That wasn't always like this. Original idea was to replace money
- dragonwriter 6y ago> Bitcoin is not money. It’s a system of value transfer. Without agreeing or disagreeing with either statement here, I'll point out that money is centrally a system of value transfer.