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Is Bitcoin still truly decentralised?
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Topic: Is Bitcoin still truly decentralised? (Read 1529 times)
Kprawn
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Re: Is Bitcoin still truly decentralised?
June 29, 2014, 12:45:22 PM
#21
Well I would rather have it decentralized over 1 000 000 users computers, than having it spread over 2 000 bank branches. The odds of having the network attacked and destroyed, are in favor of the
BTC
decentralized network.
Well in actual fact, you can see it as 1 000 000 {theoretical number} of nodes running and duplicating the same thing.
The threat is, when people stop running as nodes.
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Nagato4
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Re: Is Bitcoin still truly decentralised?
June 30, 2014, 06:15:06 AM
#22
Quote from: Kprawn on June 29, 2014, 12:45:22 PM
Well I would rather have it decentralized over 1 000 000 users computers, than having it spread over 2 000 bank branches. The odds of having the network attacked and destroyed, are in favor of the
BTC
decentralized network.
Well in actual fact, you can see it as 1 000 000 {theoretical number} of nodes running and duplicating the same thing.
The threat is, when people stop running as nodes.
You are too optimistic on the number of nodes.
There are just about 7000 nodes currently, according to
https://getaddr.bitnodes.io/dashboard/
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Kprawn
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Re: Is Bitcoin still truly decentralised?
June 30, 2014, 11:26:08 AM
#23
Hence, the {theoretical number} included in the explanation.
Just used a random number, to explain what the difference was, but thanks for the link to the true statistics.
But I guess, he/she gets the picture.
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dothebeats
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Re: Is Bitcoin still truly decentralised?
July 01, 2014, 10:40:49 AM
#24
Hmm. That question also intrigues me a lot. I mean, look at those biggie addresses. Each of them own almost 1% of the total bitcoins out there. If they want to, they can control the whole market (not the network, I think. Let's leave it in the hands of big mining pools.), unless people stop riding and joining the bitcoin train. Choo choo!
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