Quote from: OROBTC on March 27, 2018, 05:00:47 AM

Quote from: realr0ach on March 27, 2018, 01:30:21 AM

I'm so tired of reading posts from idiots whose only knowledge of cryptocurrency stems from Andreas Antonopolous propaganda they regurgitate as being true when in fact it's all lies:

Quote from: realr0ach on March 27, 2018, 01:21:11 AM

A blockchain is not some type of magical 8th wonder of the world. All it is is a ledger that requires a focal point for convergence. The focal point is always something like stake, raw hash power expenditure (which is nothing more than externalized stake in practice), or some other variable that can be quantified where I can say that I have more of it than you do. Where exactly do you see "decentralization" arising from such a paradigm? You would need to be a fool to think so.

The only way such an idea would not be laughable at face value is if everyone who uses the system was required to be a miner, but that's obviously not possible due to massive monetary and intellectual capital required in creating chip foundries and the fact people can corner said technology and not share it. Even if you could design it that way, the Pareto principle would still destroy it decentralization-wise anyway. It's 100% not possible to create a decentralized digital currency.

As time goes by I come more and more to the conclusion that the correct end-point of crypto (esp. BTC) is likely gold. Cryptos are likely to somehow be subverted by .gov one way or another in due course. Already they monitor the Entrance and Exit Ramps (it's possible, but hard, to buy & sell BTC evading KYC/AML laws).

We now see that Bitcoin, one of 1500 + cryptos, is already at some 43% - 44% of total crypto market value. That is some centralzation just right there.

At least competition in the crypto space is good -- it should help innovation.

Gold will not work. We have already been there. Crypto is the paradaigm shift. All gold has is history.