Post
Topic
Board Bitcoin Discussion
Re: Think about the "decentralization" of bitcoin from seven different aspects
by
Hydrogen
on 10/08/2021, 23:39:27 UTC
It might be fair to say: if centralization is a monopoly, decentralization trends nearer to a free market system.

There were many news stories and publications criticizing big american tech for being monopolies. Centralization enables monopoly. If it is true that many negative circumstances are endemic to monopoly. Then these criticisms may also extend to centralized monolithic formats. In that vein, decentralized design could be considered a hedge against monopoly and centralization.

Spheres of influence and control in bitcoin are decentralized in such a way as to make centralized control difficult to attain. The majority of crypto mining could be centralized in china. But that wouldn't be enough to give china complete control. Core developers have a great deal of influence, but its not centralized enough for their perspective to be the only one deemed relevant.

If monarchy is centralization. Decentralization could trend nearer to being a republic. Or format of democracy.