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Question: Is Bitcoin Really Decentralized?
Yes - 8 (30.8%)
No - 17 (65.4%)
Who Cares? - 1 (3.8%)
Total Voters: 26

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Author Topic: Has Bitcoin Finally Lost Its Decentralization?  (Read 961 times)
famososMuertos
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September 08, 2024, 04:17:38 PM
 #81

This question seems rhetorical... but it surely isn't, and this is perhaps because simply due to its technological architecture bitcoin isn't, CEX, now, we certainly it look at it from that broader idea of ​​what the centralized opposite means, we could think that "maybe", but this is have in the hold of bitcoin, and that has nothing to do with the DEX concept.

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BlackHatCoiner
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September 08, 2024, 07:20:33 PM
 #82

and we need to keep an eye and scrutinise and critique their work instead of brush it under the carpet pretending its decentralised to then become complacent
(rhetorical question)

Who's "we"? You and I, who disagree on a fundamental level on what's Bitcoin? Or you and whoever agrees with you? Or the majority of the people in Bitcoin?

If you're not a coder or a contributor, then, no offense, but STFU. This is not a communist nor a democratic system. It's a zero-trust system. If you don't like coding, contributing or discussing in mailing lists, then you hold no influence in the space. You can "critique" their work all you like, but they're not working for you. They're working on whatever they find right, and ignore the noise.

Accept the facts, and move on with your life.

tread93
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September 09, 2024, 05:49:24 PM
 #83

Bitcoin network is not centralized. This is what we should related to centralization. Since many years ago were centralized exchanges and custodial wallets which are all centralized but the purpose of bitcoin to be used for P2P on noncustodial wallet has not changed. Also no organization is controlling bitcoin.
The simple and direct answer to the OP question is NO, Bitcoin has not lost it's decentralization. Institutions and governments only have control over the amount of Bitcoin that they hold, just like any other hodler will have the control of the amount of the Bitcoin that they hodl. The Bitcoin blochchain is not centralized therefore not in the control of any single entity. Bitcoin is a unique decentralized digital cash that gives it's holders freedom and privacy from any third party including governments and institutions if held in a none custodial wallet.

It’s always going to remain decentralized as long as folks have full custody of their coins and security over that. The big things that will affect the individual is government regulations and taking those taxes after you cash out.

seoincorporation
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September 09, 2024, 07:56:10 PM
 #84

Holders are only a part of bitcoin, and if someone holds a lot of coins that doesn't affects the centralization of the project. we should worry when someone holds a big part of the mining hardware, that would representa a risk for the project because they can attack the network with that, but Holders doesn't represent a risk at all. maybe a risk on the price and market, but that can't affects the nature of the blockchain.

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franky1
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September 09, 2024, 10:01:03 PM
Last edit: September 09, 2024, 10:31:41 PM by franky1
 #85

and we need to keep an eye and scrutinise and critique their work instead of brush it under the carpet pretending its decentralised to then become complacent
(rhetorical question)

Who's "we"? You and I, who disagree on a fundamental level on what's Bitcoin? Or you and whoever agrees with you? Or the majority of the people in Bitcoin?

If you're not a coder or a contributor, then, no offense, but STFU. This is not a communist nor a democratic system. It's a zero-trust system. If you don't like coding, contributing or discussing in mailing lists, then you hold no influence in the space. You can "critique" their work all you like, but they're not working for you. They're working on whatever they find right, and ignore the noise.

Accept the facts, and move on with your life.

^ the lemming speaks about his overlords power (of how they do not work for anyone but themselves and their self interests.(technically they work for whomevers sponsoring them to add crappy features that annoy bitcoiners))
when the devs ignore bitcoiners concerns and those critiquing them then that is where the power play evolves into communism/government
yep core have become bitcoins own government

you telling people to stop critiquing devs is a show that you want centralised power..
every insult you sling and command you make against others says more about you then it does about anyone

you know full and well the moderation control the centralised powerhouse has.. and to become a valid contributer is not a open door policy, its actually a kiss the ring and be malleable to follow the path of the moderated roadmap, else have your contributions 'Nacked'/not merged, your comments removed and your ability to participate on a area of the development platform banned.. but you love it so you dont care.


instead of asking people to just accept the centralisation as fact and move on.. its actually more morally right and appropriate to critique, scrutinise and highlight the problem to make people aware of it, instead of your attempt to sweep things under the rug and lull people to sleep in your dreamy buzzword of fake openness

the development of bitcoin is not trustless. because now we have to trust the core devs are 'doing whats right' as they dont accept any independent peer review
again core have become bitcoins government(policy makers) with their own power hierarchy and even a internal election system of how gets a seat of power



the funny part is these lemmings kissing the ring, want to divert peoples attention by saying a $80 hard drive for decades of all transaction data is "THE"(and only) centralisation threat, although the overlords think a $80 single transaction is fine and expected (facepalm)

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
Abiky
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September 09, 2024, 11:30:58 PM
 #86

Not to the average consumer. Most actually store their "Bitcoin" holdings in some central RDBMS run by a broker, and even then it's just a number saying how much Bitcoin you own.

That's why my answer to the poll question was, "Who Cares?"--because in reality, most Bitcoin holders don't actually care...

Exactly. Most people are in it for the money. Not because they care about Bitcoin. Those who hold BTC in their own wallets (self-custody) constitute a small fraction of the network. I'd say Bitcoin is now owned by centralized exchanges and institutional investment companies. Even if miners and node operators are the ones in charge of network consensus. What use will these entities have if "Wall Street" holds most of the circulating supply?

Maybe the community go as far as forking off to a new chain? Or simply approve increasing BTC's max supply of 21m units (very unlikely)? I know other coins are faring worse (eg: Ethereum, and Solana). But I think Bitcoin can do better than that. Hopefully, Bitcoin stays true to its principles of decentralization and censorship-resistance in the long run. Otherwise, it was fun while it lasted.

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