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> permission-less distributed ledger like Bitcoin is a completely unnecessary waste of resources. it certainly is when it immediately de facto centralizes! whi
by hprotagonist 5y ago
> permission-less distributed ledger like Bitcoin is a completely unnecessary waste of resources.
it certainly is when it immediately de facto centralizes! which is in the event what has happened
- bally0241 5y agoI'm not sure how you can say it is de facto centralized. You may have had a decent argument as recently as last summer when most of the mining was done in China. However, we just watched them ban mining there completely, and the network carried on relatively unfazed. Seems pretty distributed to me.
- wyager 5y ago> it immediately de facto centralizes In what respect? Hash power is well-distributed. Consensus (formal and informal) is working as expected.