31 sats \ 6 replies \ @siggy47 OP 19 Apr 2023 \ parent \ on: Is The US Government Going to Support and Promote Eth? bitcoin
Putting aside your argument against "bitcoin maxis", I agree that decentralization is the issue here.
Do you consider eth decentralized? I don't.
It's not about the network being decentralized within itself, it can be completely centralized with just a single mining entity. The point is, that even such, such a network is "decentralized" in the eyes of the governments because it is not controlled by any government. However, of course if such a network was really fully controlled by just one entity then it would be highly debatable if it was really independent from governments' influence.
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If something is centralized, it can easily be controlled by governments, no?
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That's pretty much what I meant in the last sentence of my comment above.
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Exactly.
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I use the word "decentralization" as a simplification. Use "loss of control" if you prefer. Bottom line is the same: any crypto or public blockchain will be seen as something going against fiat, central banks, and the associated power/control.
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It's certainly not decentralized anymore. Regardless of one's position on if it ever truly was, the switch from proof-of-work to proof-of-stake effectively killed any validity to claims of decentralization.
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