Quote from: futureofbitcoin on March 19, 2015, 04:18:52 PM

Quote from: Miz4r on March 19, 2015, 03:44:37 PM

Quote from: futureofbitcoin on March 19, 2015, 03:33:06 PM

Quote from: Wandererfromthenorth on March 19, 2015, 03:20:04 PM

100% decentralisation has more to do with ideology than actual usefulness IMHO.

EXACTLY! I tried to get this point across so many times, to no avail. Everyone on this forum seems to think that decentralization will bring about some magical utopia, and that a government/centralized crypto cannot work because it's not decentralized. I think they need a reality check.

The current centralized financial system has kinda proven already that it doesn't work, this is entirely the reason why Bitcoin was invented in the first place. You may want to cling on to a failing system and a ship that's slowly sinking, but I think we need to improve and do better than that. It's called innovation and progress, not magical utopia.

On the contrary, it has worked well for centuries, and continues to work well for the vast majority of the world.

That said, can it be better? Most definitely. There are many things that can be improved with the current financial system. I'm just not sure decentralization is one of them.

Your argument is akin to saying "Well, cars have proven that they don't work, since traffic accidents happen everyday. That's why we need to replace round wheels with triangular wheels."

Well, you managed to identify a problem, but you didn't identify correctly the cause of the problem, thus you can't provide the correct solution.

Again, I'm a bitcoin bull, but I'm not a fiat-government-centralization hater.

Your understanding of the historic international trade system, that worked for centuries, is totally off the mark. The system that worked for centuries, was decentralized. In fact, the free market economy is decentralized by definition.

The defects of the current system:

Fiat systems are centralized, because there is one entity that issues money. They have each worked a few years, then collapsed.

The current fiat system consists of different systems that are interdependent through the defects of the current main stream economists, and the fact that central banks cooperate.

A new thing is the loss of anonymity, the anonymity is a requirement for free individuals who comprise the free market system.

A new thing is government control of the payment system, enabling governments to step in and destroy free trade between any two free actors. They can do this without entertaining the government law system.

We have never in history had a basically world wide fiat system, never has a fiat system inflated to the current degree without imploding.

So we are in desperate need for a new system. Sadly, bitcoin is years away from having the necessary expansion to be able to take over. Brace yourself for a period of money system confusion, as new systems are brought about from people who understand nothing.