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>(3) is happening with bitcoin and tor You can't centralize bitcoin, that would be like trying to centralize p2p sharing, the protocol doesn't allow it. An alt
by VT_Drew 11y ago
>(3) is happening with bitcoin and tor
You can't centralize bitcoin, that would be like trying to centralize p2p sharing, the protocol doesn't allow it. An alternative digital currency may emerge that is centralized, or more likely, a single currency exchange will dominate bitcoin. But in reality exchanges would become obsolete if bitcoin really took off (you would just get paid and purchase goods all in bitcoin, no need to exchange to another currency).
- iamcurious 11y agoYou can't centralize bitcoin, that would be like trying to centralize p2p sharing, the protocol doesn't allow it. You can't centralize the protocol, but you can centralize the most popular exchanges. You still got the protocol down there, but it is wrapped up in a nice centralized single point of failure interface.
- yegortimoshenko 11y agoIt is about Blockchain and Xapo wallets or even about centralized validation in wallets like Mycelium. Such centralized systems had not existed in Bitcoin before it became popular.