evoorhees
Legendary
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Activity: 1008
Merit: 1021
Democracy is the original 51% attack
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August 28, 2011, 09:37:22 PM |
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Bitcoin is decentralized because no one party has monopoly control over the system. That DOES NOT mean that resources and influence will not coalesce around certain points (MtGox, the core dev team, etc.).
However, there is all the difference in the world between a system like Bitcoin and a system like the Federal Reserve, where one organization has monopoly power to print, manipulate, and control.
Don't confuse "decentralized" with "evenly distributed."
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