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Title: Is there a such thing as actual decentralization? Post by: Speculator[zzzz] on July 09, 2017, 09:08:42 PM Excuse my ignorance. But is there truly any way a currency can be completely decentralized? Sure, maybe not central to a governement, but some central entity will always lay claim to any currency. It's further unrealistic to believe each government won't regulate cryptocurrency at some point. I have the same question about dapps and a dectralized internet. Again, I apologize if I'm missing a fundamental factor when asking this question. However, I'm not too proud to ask and be educated.
Title: Re: Is there a such thing as actual decentralization? Post by: systemv on July 09, 2017, 09:34:45 PM Depends on what "actual decentralization" means. If it's a governance, there are many models in which it is a commonwealth (Tezos) or mix of PoW/PoS/voting/etc. If you mean it even broader, then you probably right, any model compartmentalized by region/beliefs/ideology/concentration of capital and ability to spend it in this area...
Title: Re: Is there a such thing as actual decentralization? Post by: Coins and Hardwork on July 09, 2017, 09:38:32 PM Excuse my ignorance. But is there truly any way a currency can be completely decentralized? Sure, maybe not central to a governement, but some central entity will always lay claim to any currency. It's further unrealistic to believe each government won't regulate cryptocurrency at some point. I have the same question about dapps and a dectralized internet. Again, I apologize if I'm missing a fundamental factor when asking this question. However, I'm not too proud to ask and be educated. Bitcoin is a decentralized currency, that means, no one is controlling them nor making them. It is mined and it can be mined by anyone. Satoshi Nakamoto created bitcoin, even if he did, he still mined the bitcoin in order to acquire them. Title: Re: Is there a such thing as actual decentralization? Post by: Speculator[zzzz] on July 09, 2017, 10:10:03 PM Excuse my ignorance. But is there truly any way a currency can be completely decentralized? Sure, maybe not central to a governement, but some central entity will always lay claim to any currency. It's further unrealistic to believe each government won't regulate cryptocurrency at some point. I have the same question about dapps and a dectralized internet. Again, I apologize if I'm missing a fundamental factor when asking this question. However, I'm not too proud to ask and be educated. Bitcoin is a decentralized currency, that means, no one is controlling them nor making them. It is mined and it can be mined by anyone. Satoshi Nakamoto created bitcoin, even if he did, he still mined the bitcoin in order to acquire them. But I guess that's my point. There are still developers which will ultimately determine the direction of the currency - owners of the company, for the lack of a better comparison. So am I just misunderstanding what people mean by decentralized? Does decentralized simply mean no one entity is printing the money? And if that's the case, why is that so important? Title: Re: Is there a such thing as actual decentralization? Post by: Speculator[zzzz] on July 09, 2017, 10:18:06 PM Depends on what "actual decentralization" means. If it's a governance, there are many models in which it is a commonwealth (Tezos) or mix of PoW/PoS/voting/etc. If you mean it even broader, then you probably right, any model compartmentalized by region/beliefs/ideology/concentration of capital and ability to spend it in this area... I think I understand your point. But what's the difference between a formal governing body governing the currency, as oppose to a private commonwealth/pow/pos/voting power? Title: Re: Is there a such thing as actual decentralization? Post by: monsterer2 on July 10, 2017, 09:34:15 AM Excuse my ignorance. But is there truly any way a currency can be completely decentralized? Sure, maybe not central to a governement, but some central entity will always lay claim to any currency. It's further unrealistic to believe each government won't regulate cryptocurrency at some point. I have the same question about dapps and a dectralized internet. Again, I apologize if I'm missing a fundamental factor when asking this question. However, I'm not too proud to ask and be educated. Decentralised currencies are unregulatable by nature, since there is no regulating body that governs them, except the built-in protocol which drives them; this is a bit more fuzzy when you start talking about DAPs, because they are run like companies. However, the underlying cryptocurrency must strictly adhere to it's ungovernable nature, or it will lose value due to loss of investor confidence. Title: Re: Is there a such thing as actual decentralization? Post by: xbiv2 on July 10, 2017, 09:36:28 AM Excuse my ignorance. But is there truly any way a currency can be completely decentralized? Sure, maybe not central to a governement, but some central entity will always lay claim to any currency. It's further unrealistic to believe each government won't regulate cryptocurrency at some point. I have the same question about dapps and a dectralized internet. Again, I apologize if I'm missing a fundamental factor when asking this question. However, I'm not too proud to ask and be educated. GOLD, BITCOINTitle: Re: Is there a such thing as actual decentralization? Post by: Brmaster on July 10, 2017, 10:09:17 AM Excuse my ignorance. But is there truly any way a currency can be completely decentralized? Sure, maybe not central to a governement, but some central entity will always lay claim to any currency. It's further unrealistic to believe each government won't regulate cryptocurrency at some point. I have the same question about dapps and a dectralized internet. Again, I apologize if I'm missing a fundamental factor when asking this question. However, I'm not too proud to ask and be educated. Bitcoin is a decentralized currency, that means, no one is controlling them nor making them. It is mined and it can be mined by anyone. Satoshi Nakamoto created bitcoin, even if he did, he still mined the bitcoin in order to acquire them. not actually, Bitcoin now is in Core's hand. Title: Re: Is there a such thing as actual decentralization? Post by: xbiv2 on July 10, 2017, 10:44:04 AM not actually, Bitcoin now is in Core's hand. Not, without acceptance of miners bitcoin core team cannot do any changes.Mining pools cannot do anything bad cose will lose miners and die. Title: Re: Is there a such thing as actual decentralization? Post by: X-ray on July 10, 2017, 11:26:43 AM Excuse my ignorance. But is there truly any way a currency can be completely decentralized? Sure, maybe not central to a governement, but some central entity will always lay claim to any currency. It's further unrealistic to believe each government won't regulate cryptocurrency at some point. I have the same question about dapps and a dectralized internet. Again, I apologize if I'm missing a fundamental factor when asking this question. However, I'm not too proud to ask and be educated. Bitcoin is a decentralized currency, that means, no one is controlling them nor making them. It is mined and it can be mined by anyone. Satoshi Nakamoto created bitcoin, even if he did, he still mined the bitcoin in order to acquire them. Title: Re: Is there a such thing as actual decentralization? Post by: Coins and Hardwork on July 10, 2017, 09:17:39 PM Excuse my ignorance. But is there truly any way a currency can be completely decentralized? Sure, maybe not central to a governement, but some central entity will always lay claim to any currency. It's further unrealistic to believe each government won't regulate cryptocurrency at some point. I have the same question about dapps and a dectralized internet. Again, I apologize if I'm missing a fundamental factor when asking this question. However, I'm not too proud to ask and be educated. Bitcoin is a decentralized currency, that means, no one is controlling them nor making them. It is mined and it can be mined by anyone. Satoshi Nakamoto created bitcoin, even if he did, he still mined the bitcoin in order to acquire them. not actually, Bitcoin now is in Core's hand. So tell me, can they control Bitcoin? Can they stop us from accessing it, can they edit how many bitcoins are in circulation? Are they getting permissions to make and take bitcoin? They did not, they just maintain it. Title: Re: Is there a such thing as actual decentralization? Post by: Spoetnik on July 11, 2017, 12:02:50 AM No.
We have come up with degrees of it but not really. look at Bitcoin for example ..key figures control key points of it. I always tell people to look and see who has the keys to Github. Then i remind them that Github is 100% USA govt compliant. If they are asked for info etc it will be given with no hesitation. Take out the centralized hoster Github and it would be a monumental blow. ..or theymos and his forum. (even he has advocated a decentralized solution to this forum) And heard of Luck7coin ? LOL No matter which way you look at it there is a problem with decentralization. Don't get me started on the down grade that is the ICO either. ..that was a huge leap in reverse making this shit even more centralized and exploitable. No crypto user with a shred of integrity would ever advocate any ICO. Exchanges are all puppet operations controlled by central figures who are all in cahoots with side channels and back rooms. We know this because they told us. When Butters once again.. tells Poloniex etc to halt trading of ETH it means he controls the coin. What part of that is decentralized ? And how is Polo decentralized when they are AML / KYC compliant ? It is in fact an illusion. Title: Re: Is there a such thing as actual decentralization? Post by: Creepings on July 11, 2017, 05:04:30 AM Excuse my ignorance. But is there truly any way a currency can be completely decentralized? Sure, maybe not central to a governement, but some central entity will always lay claim to any currency. It's further unrealistic to believe each government won't regulate cryptocurrency at some point. I have the same question about dapps and a dectralized internet. Again, I apologize if I'm missing a fundamental factor when asking this question. However, I'm not too proud to ask and be educated. I don't think that there are really decentralisation on this digital currencies, yes they say that there are, but it is like a cover up that will make it perfect. We can say that the decentralized coins that we know is not really decentralized, but it is, a little confusing right? But you can say it is close to yes, but the answer is not really or entirely yes. Title: Re: Is there a such thing as actual decentralization? Post by: MostHigh on July 14, 2017, 04:12:13 PM Bitcoin is decentralized because there is no central body regulating prices. The rise and fall of bitcoin depends sorely on business transactions which runs through the block chain.
Title: Re: Is there a such thing as actual decentralization? Post by: pressureonme on July 20, 2017, 08:54:30 PM Excuse my ignorance. But is there truly any way a currency can be completely decentralized? Sure, maybe not central to a governement, but some central entity will always lay claim to any currency. It's further unrealistic to believe each government won't regulate cryptocurrency at some point. I have the same question about dapps and a dectralized internet. Again, I apologize if I'm missing a fundamental factor when asking this question. However, I'm not too proud to ask and be educated. No, not really. There is no ideal decentralization exist in the world. The best application of decentralizatin os bitcoin I think, but it still has problems. For the governments, it's never possible to have decentralized currencies. Title: Re: Is there a such thing as actual decentralization? Post by: favila on July 20, 2017, 08:57:48 PM Excuse my ignorance. But is there truly any way a currency can be completely decentralized? Sure, maybe not central to a governement, but some central entity will always lay claim to any currency. It's further unrealistic to believe each government won't regulate cryptocurrency at some point. I have the same question about dapps and a dectralized internet. Again, I apologize if I'm missing a fundamental factor when asking this question. However, I'm not too proud to ask and be educated. No, not really. There is no ideal decentralization exist in the world. The best application of decentralizatin os bitcoin I think, but it still has problems. For the governments, it's never possible to have decentralized currencies. Bitcoin is still very centralized especially around miners and exchanges. Altcoins are also usually centralized around certain devs/teams. |