Make Crypto Great Again?

[Abiky]

If there's one thing you would change about crypto to help improve it for the better, what would that be? Ever since Bitcoin was born, crypto has been slowly decaying into the path of centralization. It isn't as good as it was in the early days, than it is right now.

Personally, I would change Bitcoin's PoW mining system to be more equitative. Like punishing big miners and rewarding small miners instead.

What would you do? Your input would be greatly appreciated. Thanks.

[_act_]

Personally, I would change Bitcoin's PoW mining system to be more equitative. Like punishing big miners and rewarding small miners instead.

The PoW which bitcoin is using is very good, not centralized like people think. It is still kind of decentralized, but because there are few miners that are very recognized, some people think that bitcoin mining is centralized, but it is not centralized.

Which one will you change it to? Explain so that we can understand?

It is also good to look at its disadvantages.

[Odohu]

Personally, I would change Bitcoin's PoW mining system to be more equitative. Like punishing big miners and rewarding small miners instead.

You will end up killing Bitcoin. You want to move from a system that is fair and rewards hardwork to a socialist system that breeds laxity? What exactly would be your reason for chosing such a proposal?

To me, the current system is fine,  it helps create natural competition that rewards those with hardwork. Your proposal  may not make crypto great again. What is holding down cryptocurrency especially altcoins is the entry of people without feasible ideas who just want to make money.

[Ahli38]

If there's one thing you would change about crypto to help improve it for the better, what would that be? Ever since Bitcoin was born, crypto has been slowly decaying into the path of centralization. It isn't as good as it was in the early days, than it is right now.

Personally, I would change Bitcoin's PoW mining system to be more equitative. Like punishing big miners and rewarding small miners instead.

What would you do? Your input would be greatly appreciated. Thanks.

Bitcoin alone is enough to make crypto look great. And it’s Bitcoin’s existence that allows other altcoins to benefit from its popularity. So I personally think that nothing else is needed to make crypto great again. And I think Bitcoin has a proof-of-work mechanism that’s fair enough to miners who are interested in mining it. The more money miners spend the more it proves that they believe in Bitcoin. As for miners who aren’t prepared to spend more on Bitcoin mining then I think they’re not willing to make the sacrifice to obtain a high-value asset. Even if you want fair mining as you describe then there needs to be a miner identifier system to limit miners who want to mine on a large scale. But I think that would be difficult considering that a miner could accumulate a large number of small-scale mining tools making it appear to be centralized. Perhaps there is no way to stop the dominance in mining by any means. I used to think that mining using storage devices with serial numbers would be fair to miners. But I don’t think that can be a solution after all.

[jossiel]

If there's one thing you would change about crypto to help improve it for the better, what would that be? Ever since Bitcoin was born, crypto has been slowly decaying into the path of centralization. It isn't as good as it was in the early days, than it is right now.

Personally, I would change Bitcoin's PoW mining system to be more equitative. Like punishing big miners and rewarding small miners instead.

What would you do? Your input would be greatly appreciated. Thanks.

That won't be fair I think if these big miners have invested a lot then they'll get punished for it. I am into rewarding the small miners too but I guess that's where the fairness is being sacrificed with.

If there will be a change for me, I just want to lessen these altcoins so that we get only bitcoin and few of it.

[KingsDen]

If there's one thing you would change about crypto to help improve it for the better, what would that be? Ever since Bitcoin was born, crypto has been slowly decaying into the path of centralization. It isn't as good as it was in the early days, than it is right now.

Bitcoin maintained high level of decentralisation in the early days because not too many people were in the ecosystem and the few that was there were programmers with high tech knowledge.
Adoption has come and more lazy people, more cheats and less private people are in the network that's why decentralization is weakening.

Personally, I would change Bitcoin's PoW mining system to be more equitative. Like punishing big miners and rewarding small miners instead.

How will the network be protected when you punish people with higher mining power and reward those with small mining power. The more power you have as a miner, the more incentive and the more the network is protected.

What would you do? Your input would be greatly appreciated. Thanks.

Things can easily be changed in crypto but not in bitcoin if you don't want forks.

[Slow death]

When you say "Make Crypto Great Again," it sounds like cryptocurrency was great in the past and not today, which why something needs to be done to make it great again. Let's look at past data:

2020:

- In 2020, the market capitalization of all cryptocurrencies was $732 billion.

- In 2020, there were fewer than 6,000 altcoins.

- In 2020, the price of Bitcoin was $29,000.

2026:

- In 2026, the market capitalization of all cryptocurrencies is $2.22 trillion.

- In 2026, there are more than 8,000 altcoins.

- In 2020, the price of Bitcoin is $64,000.

So the numbers clearly show that great times for the cryptocurrency market are now, not in the past.

What would you do?

The Bitcoin system is perfect; I wouldn't change a thing. The only thing I would do is engage in extensive dialogue with governments and legislators in many countries to get them to approve laws favorable to cryptocurrencies, allowing people to use Bitcoin cards without converting to fiat currency and pay for whatever they want in the real world. It would also allow businesses to accept Bitcoin as a direct payment method without any fiat conversion, and people could have Bitcoin bank accounts if they wanted, without conversion. That's all I would do. The market is currently good for me; it just needs more adoption as a payment method.

[Mrbluntzy]

What would you do? Your input would be greatly appreciated. Thanks.

Too many scam projects have robbed investors off their hard earned money, it has made most people to have a change of mind towards adopting Bitcoin or any other coin or token. To make crypto great again is to eliminate all the scam projects, make sure that no projects is able to successfully scam people. Create more awareness about Bitcoin and how to protect against scams.

So many projects have died between 2017 till today and most of them died when investors funds have not been recovered, at least Bitcoin have been standing strong and Bitcoin is even the reason why some persons still believe in investing in other token. Personally, if am buying any altcoin, I have this thought in my mind that, " During Bitcoin halving, the price of the altcoin I'm buying will also pump" That hope is alive becomes of Bitcoin and I think that is also what still motivates a lot of people. If scams can be extinguished in altcoins, then it might do well again.