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Regarding Ethereum you’re right, it’s centralized. With Bitcoin I run my node and check the incoming transactions with it whenever I make a big money transfer

Regarding Ethereum you’re right, it’s centralized. With Bitcoin I run my node and check the incoming transactions with it whenever I make a big money transfer (for outgoing transactions a full node is not really needed, as I don’t care if the network doesn’t accept it as long as my counterparty does). Running a Bitcoin node is practical (less than a day of running in the background on the first run) if the amount of money is significant.

TheCowboy 5y ago
If we limit ourselves to Bitcoin then we're at a sliver of the web3 ecosystem everyone is casting their hopes upon. And Bitcoin in its current state still seems more like a blockchain working prototype and isn't 'feature-ful' enough to replace centralized finance. But proof-of-work's energy consumption is what kills Bitcoin for me. For what it's worth, I consider myself crypto agnostic. If a tech delivers something better then great.
- xiphias2 5y ago
  Bitcoin has nothing to do with Web3, they are two different things (web3 is a new term, Bitcoin is a system from 2008)
  - hestefisk 5y ago
    Bitcoin has a scripting system which gives it some limited smart contract capabilities. If web 3 is about programmable money and ownership I would argue BTC is very much relevant to Web 3.
    - deleted 5y ago
      [deleted]
  - m00dy 5y ago
    You can use Bitcoin as a collateral on web3.
- aaaaaaaaata 5y ago
  Cryptocurrency agnostic — thank you. I'm going to borrow. I don't necessarily like all of the community, current "leaders" etc — I just know a sticky concept when I see it.
vmception 5y ago
Ethereum is only centralized if you dont run your own node. It is as practical to do that as it is a bitcoin node (but not for what the person you replied to was trying to do). This is an absurd distinction, and even if it wasnt absurd or wasnt practical then it is a fixable issue. Because it already has been fixed. Geth has a pruned fast sync client that has everything necessary for consensus, it takes about the amount of space and resources as a bitcoin one.
suikadayo 5y ago
I run an Ethereum node at home just fine. There’s nothing centralized about Ethereum.

TheCowboy 5y ago

If we limit ourselves to Bitcoin then we're at a sliver of the web3 ecosystem everyone is casting their hopes upon. And Bitcoin in its current state still seems more like a blockchain working prototype and isn't 'feature-ful' enough to replace centralized finance. But proof-of-work's energy consumption is what kills Bitcoin for me. For what it's worth, I consider myself crypto agnostic. If a tech delivers something better then great.

xiphias2 5y ago
Bitcoin has nothing to do with Web3, they are two different things (web3 is a new term, Bitcoin is a system from 2008)
- hestefisk 5y ago
  Bitcoin has a scripting system which gives it some limited smart contract capabilities. If web 3 is about programmable money and ownership I would argue BTC is very much relevant to Web 3.
  - deleted 5y ago
    [deleted]
- m00dy 5y ago
  You can use Bitcoin as a collateral on web3.
aaaaaaaaata 5y ago
Cryptocurrency agnostic — thank you. I'm going to borrow. I don't necessarily like all of the community, current "leaders" etc — I just know a sticky concept when I see it.

vmception 5y ago

Ethereum is only centralized if you dont run your own node. It is as practical to do that as it is a bitcoin node (but not for what the person you replied to was trying to do). This is an absurd distinction, and even if it wasnt absurd or wasnt practical then it is a fixable issue. Because it already has been fixed. Geth has a pruned fast sync client that has everything necessary for consensus, it takes about the amount of space and resources as a bitcoin one.

suikadayo 5y ago

I run an Ethereum node at home just fine. There’s nothing centralized about Ethereum.