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Author Topic: Has The Decentralization Concept Failed?  (Read 441 times)
BlackHatCoiner
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July 24, 2024, 03:24:29 PM
 #61

Yes, I guess that's it. I define value in the way... most people define value: a thing you can use to obtain what you want or need in an open market.
Uncensorable, unstoppable, verifiable, globally accessible, permissionless, transparent, scarce, peer-to-peer cash is, apparently, a "thing" people want or need in these markets. It's just that, to you, it seems like these properties don't fit the needs or desires of people.

goldkingcoiner
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July 24, 2024, 03:38:39 PM
 #62

Bitcoin, the first blockchain project, was built based on the concept of decentralization. Have you noticed that nearly every other project has team members that know one another? Even Ethereum, which claims to be decentralized, may have the email addresses of all its validators in one place. It very much seems that decentralization is no longer or has never been the vision of crypto projects since the days of Bitcoin. Why would a so-called blockchain product end up being linked to, say, a centralized exchange? Why are we no longer seeing qualitative, decentralized projects with anonymous teams? Even the Tornado Cash founders won't be in trouble today IF THEY WORKED ANONYMOUSLY AND FOCUSED ON DECENTRALIZATION. What seems obvious is that most blockchain products these days have their focus on making money and conforming to regulations, not giving people freedom from government control. That's why you see KYC everywhere.

Bitcoin was never meant to be anonymous. That would only complicate things. What Bitcoin is, is private.

As far as decentralization goes, that is up to the user. If they want to centralize their Bitcoin by handing it over to a third party, then that is their right (even though it means that they bought/mined Bitcoin without understanding the concept behind it- being your own bank). And they will whine once the centralized platform exit scams, gets hacked or plainly confiscated by the government. The option to remain decentralized remains.

Personally I stay away from centralized platforms. I do not want to give anyone my KYC or my Bitcoin.  

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legiteum
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July 24, 2024, 06:12:00 PM
 #63



Yes, I guess that's it. I define value in the way... most people define value: a thing you can use to obtain what you want or need in an open market.
Uncensorable, unstoppable, verifiable, globally accessible, permissionless, transparent, scarce, peer-to-peer cash is, apparently, a "thing" people want or need in these markets.

It's just that, to you, it seems like these properties don't fit the needs or desires of people.


The only reason people might want those things is because it will make them more money so they can buy more stuff.

Indeed, when you say "xyz is better" in a financial context, that's what people almost always think you mean.

But you don't mean that. And that's sorta... different Smiley.

You seem to be saying you want those things as ends in themselves completely detached from any sort of earthly value e.g. buying things you want or need. If that's how you feel, then that's fine and I respect that. But keep in mind a lot of people will be confused by what you are saying, so just keep that in mind.


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