9,845 sats stacked
stacking since: #75812longest cowboy streak: 3
This is also linked right above every text field for posting and commenting.
This is the kind of stuff I'm talking about. We need more of this.
Bitcoiners should be able to rally around a shared cause and make sure that people know why it's so important.
I agree that it will hurt the U.S. But collectively they don't see that. So they might end up shooting themselves in the foot and going down the route that leads to less people being able to use bitcoin freely.
I'm sure most people here would like to be able to use bitcoin without the threat of the state coming down on them no? Yes, bitcoin still works even with totalitarian governments, but if we want bitcoin to be as accessible as possible to as many people as possible we need to make sure that governments aren't cracking down on it and that people have a different view of it culturally.
Winning over the minds of the people matters way more than bitcoiners think IMO. We don't want Bitcoin to be a niche technology that is only used as a last resort to overcome tyrannical authoritarianism, we want it to be understood and accepted by as many people and governments as possible.
I want to see Bitcoin be accepted in the United States by both the people and the government. Regulations cracking down on the industry makes bitcoin less available to the people there.
Sure cracking down on bitcoin won't actually kill bitcoin, but it significantly affects people's ability to use it freely without the concern of the boot of the Feds.
Most people will not use bitcoin if it is not convenient or if there is a threat of the state coming down on them. Only in the case where they have no other choice, would most people resort to using bitcoin IMO.
According to mempool.space, I believe the record highs for fees are somewhere ~1400 sats/vByte, from back in Dec 2017.
Thank you very much for the info. This is a rabbit hole worth going down.
I've seen controversy about censorship with covenants and similar proposals, but I don't know enough to be super opinionated.
Nice post. Without going into too much detail on each of your questions:
How do individuals within the crypto community perceive the importance of decentralization ?
I think that decentralization is absolutely a core principle of bitcoin if not the most important principle. Money under the control of central groups / authority has always shown to be corrupted.
Does a higher decentralization index positively influence trust ?
If you mean that as a network becomes more decentralized people trust it more, In general I'd agree.
What are your thoughts on the role of decentralization ?
Decentralization is the key to censorship resistance.
And lastly, is there any website where I can see the chart ?
I wish.
My question:
Do some protocols work better with less decentralization / (more centralization)? If so what types of protocols would require less or more?
This is exactly the kind of discussion that I was trying to get at with this post.
Basically all cryptocurrencies just market themselves off of the things that make Bitcoin genuinely useful and ditch them when it suits them.
Yeah I don't understand how people can get past the ICO, nobody has ever given me a solid answer about that. I wonder how the transition to PoS will play out over time.
I totally agree about the CEOs, marketing, and foundations being the antithesis of decentralization. People still seem to try to argue that it's decentralized though, I just wanted to hear peoples thoughts.
I see a lot of ETH heads moving the goal posts saying that it's decentralized enough to do what it needs to do but I'm not so sure.