Even before the government began to show interest in Bitcoin, I had already felt within me that decentralization was gradually fading away. That is the reason I created this post: Why use decentralized Bitcoin in a centralized way?. Many people gave reasons why they are still using Bitcoin in a centralized way, one of which is that people are still stuck with the traditional financial system. They don't care much about privacy; they just want to get returns from their investments.
Saying the government's interest will likely cause decentralization and privacy to fade away is like looking for an excuse to justify what we are already guilty of. In years to come, we should expect more regulations from the government through the exchanges, and we will still gladly comply because, truly, only very few really care about decentralization.
Saying the government's interest will likely cause decentralization and privacy to fade away is like looking for an excuse to justify what we are already guilty of. In years to come, we should expect more regulations from the government through the exchanges, and we will still gladly comply because, truly, only very few really care about decentralization.
Decentralization might be fading away. But not to a point where all hope is lost. "Wall Street" still doesn't control network nodes and miners. At least, not yet. They can own all of the BTC they want, but at the end of the day, nodes ultimately decide the path Bitcoin will take ("One CPU, One Vote").
Undoubtely, most people only want to make money with Bitcoin. So they wouldn't care if governments and "Wall Street" giants centralize the Blockchain in the future. As long as prices keep going up, nothing else matters. Bitcoiners like you and me are smart and will not be deceived. They will do whatever it takes to help resist centralization. Let's hope most of the BTC in circulation stays in the hands of "We the People" for Bitcoin's own good. Just my two sats.
