We all know the theory: Bitcoin and cryptocurrencies are good because they are decentralized, and so on, blah blah blah.
However, as times goes by Bitcoin & C. seem to be less and less decentralized, as big whales become ever bigger while they manage to swallow rising percentages of the coins' supplies, and as the serious mining is concentrating in lesser and lesser hands, those few who can afford gigantic mining farms with cheap energy cost.
Decentralization is thus becoming a myth. We all can see how the cryptocurrency markets can be manipulated by whales (with their infamous Pump & Dumps) much easier than other classical markets like Forex or WallStreet, a further sytmptom of an invisible centralization.
And now the news has arrived of countries willing to do their own cryptocurrencies. Venezuela has just launched the Petro, Iran is planning its coin and apparently so does Russia - and I'd bet many more countries will soon follow. These currencies are all likely to be centralized.
Moreover, banks will probably launch their own centralized cryptocurrencies, and so will corporations. The future looks like a place with more and more centralized cryptocurrencies in competition and less and less truly decentralized cryptocurrencies, as Bitcoin & C. end up in the hands of lesser and lesser people - the super-whales. Which will be the implications of all this?
Your thoughts about?