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The whole selling point of bitcoin is that it's a decentralised ledger that isn't owned by anybody. If the transactions are managed by a central entity, then th
by lottin 5y ago
The whole selling point of bitcoin is that it's a decentralised ledger that isn't owned by anybody. If the transactions are managed by a central entity, then that's no longer true. For example, what's to stop such an entity from creating bitcoins out of nothing and thus debasing the bitcoin currency?
- MereInterest 5y agoAbsolutely nothing is preventing it. Depending on your viewpoint, it happened back in 2014, and somehow the cryptocurrency community just sort of shrugged and got back to wildly speculating. https://en.wikipedia.org/wiki/Mt._Gox https://en.wikipedia.org/wiki/Mt._Gox