Post
Topic
Board Bitcoin Discussion
Re: Ladies and Gentlemen, Bitcoin is about to be Centralized
by
deisik
on 05/07/2017, 19:10:47 UTC
"While some people can buy all the ASICS in the world and others can't Bitcoin will be centralized".

This idea of decentralization is getting close to resembling communism.

If ever Bitcoin's efficiency gets pegged to the least efficient participant in order not to leave him behind, he will just be holding it back. Welcome to the Free Market. Please don't turn Bitcoin into Welfare State

I severely disagree with this approach

Basically, you are extending the idea of communism (universal equality) to spheres where it is not applicable and then proceeding to conclude that this is not good just because communism itself was a bad idea. The falseness of such approach is very easy to show. You might know that one of the money qualities (which any money token should possess by definition to be called money) is fungibility, i.e. an interchangeability of one money token (let's say, 1 bitcoin) with all other such money tokens. In other words, all money tokens are born equal. But this is an example of most intrepid communism out there (according to your reasoning), so why should we turn the money tokens into a "Welfare State"? This is the same with miners, their mission is purely utilitarian, and so anything which helps fulfill it should be considered as good. Therefore if making all miners equal contributes to this mission, it should get done. Miners are there not to earn profits, they are to confirm transactions. And if earning profits gets in the way of their job (as it does nowadays), the system should be revamped to make it actually serve its purpose