If institutional money drives the market…
Is crypto still decentralised in practice?
Or we are watching it slowly move from decentralisation?
Crypto was never decentralized. Crypto emerged because people do not have the time or knowledge to understand the technical and economic essence of Bitcoin, so various scammers exploit that ignorance.A group of scammers gets together, raises money from VC capital, launches some project of their own, keeps a huge premine for themselves, hypes it up, and then dumps it on fools.For example, XRP, Solana,ETH and similar projects are,all scams.
When we say decentralization, we mean that no one can change the rules unilaterally. Bitcoin is money digital cash. Everyone is a peer in that monetary network,Bitcoin is software, and that software is not located in one place. Each of us runs our own copy on our own computer. For anyone to change the software, they would have to convince all of us to upgrade to a new version.Everyone decides for themselves which software they will install on their computer.
Altcoins are not true peer-to-peer networks. In most altcoin systems, you do not have a large number of independent users running their own software. In practice, the network is maintained by a small number of large companies or centralized actors.I hope I helped you understand it, but you will understand it best if you install Bitcoin and then try installing, for example, an Ethereum or some other altcoin node. That is where the difference becomes obvious, because almost nobody runs a node there.
