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And with the main goal being decentralization, almost the entire blockchain is controlled by a few groups of miners and hoarders. It’s as or more centralized th

And with the main goal being decentralization, almost the entire blockchain is controlled by a few groups of miners and hoarders. It’s as or more centralized than ordinary currency

betterunix2 6y ago
Except that "decentralization" is not a specific goal; it is vague and open-ended. Bitcoin has always relied on central authorities of some sort -- for a long time the peer-to-peer bootstrapping strategy was highly centralized (in an IRC channel), and everyone takes for granted the role of IANA and RIRs in making all Internet applications possible. So why should we complain about miners, hoarders, and exchanges? When you never specifically define your goals, it is easy to ignore inconvenient "problems."