We don't need decentralization everywhere.
3391 sats \ 27 comments \ @birdeye21 29 Aug 2023 bitcoin
Understandably, there's this notion that can build up in some bitcoiners that "decentralization" is just a one-size-fits-all solution.
Shitcoiners also share this notion since it's so easy to slap "decentralized" on top of every existing business model out there and call it the future of finance.
"Blockchain not Bitcoin" makes me gag a little. And admittedly, I remember saying this same thing to one of my friends back when I first started learning things. Had no clue what i was saying lol.
We don't need to decentralize everything. There's only a few key areas where decentralization matters; Money obviously yes, but we don't need to decentralize all financial activity.
What we need is decentralized money to set the foundation for honest, grounded, centralized companies to grow upon, rather than have them try to swim upstream against the fiat current.
Just a mini tuesday morning rant. Enjoy the week everyone.
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327 sats \ 1 reply \ @gregory 29 Aug 2023
I wrote almost the same thing here https://gregwhite.blog/decentralization/
Decentralization matters in places where power accumulate and is abused. Not everywhere.
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100 sats \ 0 replies \ @birdeye21 OP 29 Aug 2023
thanks for sharing :)
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83 sats \ 1 reply \ @nullama 29 Aug 2023
Most people don't even know what decentralized means. It's become a buzzword.
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21 sats \ 0 replies \ @WeAreAllSatoshi 29 Aug 2023
Couldn’t agree more. I hope it stops soon
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83 sats \ 0 replies \ @TheBTCManual 29 Aug 2023
I'm still amazed at how many people still think they need a federated entity with a inefficient costly database to move their little receipts and gaming meta data around and think that this is the future
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56 sats \ 0 replies \ @82e78180a1 29 Aug 2023
This is what drivechain cheerleaders fail to grasp.
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42 sats \ 0 replies \ @WeAreAllSatoshi 29 Aug 2023
Completely agree. It’s being way over applied
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21 sats \ 0 replies \ @1c8c319862 29 Aug 2023
shitcoiners are gradually using the buzzword distributed instead of decentralized, because they have noticed that people stopped trusting their centralized marketing team, founder's roadmap, nor the vc partners who simply cannot stop dumping
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21 sats \ 5 replies \ @jk_14 29 Aug 2023
to set the foundation for honest, grounded, centralized companies
very nice oxymoron, indeed... LOL
"All power tends to corrupt, and absolute power corrupts absolutely." (John Dalberg-Acton)
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21 sats \ 4 replies \ @birdeye21 OP 29 Aug 2023
hence the italics lol. at least in bitcoin's case, power cant be consolidated via money hoarding
that certainly changes the dynamic between company and consumer, in a much healthier way imo
If you're saying nothing centralized can be (or at least remain) honest or grounded, try thinking beyond fiatville, or about everyone in the world that would love to create something and stamp their own name on it. Own it. Profit from it. Nothing wrong with that.
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21 sats \ 3 replies \ @jk_14 29 Aug 2023
If you're saying nothing centralized can be (or at least remain) honest or grounded,
No, but it's rare like Satoshi Nakamoto. Greed is main fuel of companies/corporations. They are trying to gather more power by increasing their market share, and... "All power tends to corrupt, and absolute power corrupts absolutely." ;)
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21 sats \ 2 replies \ @birdeye21 OP 29 Aug 2023
yes i agree that's the case now, but my point is that...bitcoin fixes that.
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0 sats \ 1 reply \ @jk_14 29 Aug 2023
hopefully, still waiting for global adoption ;)
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25 sats \ 0 replies \ @birdeye21 OP 29 Aug 2023
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21 sats \ 0 replies \ @SimpleStacker 30 Aug 2023
To be fair, information storage and retrieval is something that needs decentralization, as we see how much it's currently being censored and controlled
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21 sats \ 0 replies \ @TwoLargePizzas 30 Aug 2023
If we start with the definition of centralization.
centralization :- the concentration of control of an activity or organization under a single authority.
The key word here is 'authority' which literally means "who gets to decide". Decentralization is meant to solve the problem of who gets to decide because whoever decides has power over other people.
Are there other use cases for decentralization? Maybe. But we shouldn't forget what problem decentralization actually solves.
I agree we don't need to decentralize everything and most of so called 'decentralized' crypto isn't even solving for the 'authority' problem. In many cases, it's actually worse.
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10 sats \ 0 replies \ @anon 29 Aug 2023
A post with more than a dozen words?
Good work 👍
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0 sats \ 0 replies \ @ceife 29 Aug 2023
Oh, nonono, we need it
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0 sats \ 8 replies \ @drdoom 29 Aug 2023
Decentralize Bitcoin minting !
(note, minting not mining )
If the only people who can get new coins are large institutions & early hodlers who can afford multi-million dollar infrastructure the notion that Bitcoin is even 'decentralized' is a moot point anyway.
But yeah, I agree - you don't found a brick & mortar business for example with 'decentralization' apart of your core strategy. Sure, accept Bitcoin and stack sats but what you want is your customers and teammates to centralize around where you are and what you are building.
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22 sats \ 7 replies \ @birdeye21 OP 29 Aug 2023
Bitcoin's distribution system is perfectly fair, we shouldn't change anything about it to account for the disparage in wealth that fiat has created. Nature will balance things out over time -- fiat was a stray away from natural law, bitcoin is the return
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0 sats \ 6 replies \ @drdoom 29 Aug 2023
Bitcoin is not natural, it is a new and improved game that is vastly better than the fiat version we have been playing.
we shouldn't change anything about it to account for the disparage in wealth that fiat has created
the only hypothesis for this I can come up with is that the disparage in wealth is supposed to converge as those with fiat wealth invest into Bitcoin infrastructure thus making it better and spreading newly minted coins, eventually, to the average man ? Am I correct here that is your thinking?
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0 sats \ 5 replies \ @birdeye21 OP 29 Aug 2023
no, wealth inequality is not a bad thing either.
Everyone should have access to an equal starting point, but it's up to the person to take it as far as they want to. That's fair and equal. Fiat is anything but natural, and it's created a huge gap in where people start out in life.
Bitcoin is new tech, but more as a cure to a virus. It'll converge that starting line back to center, not the $$ amounts everyone has. And stuff will become so cheap over time anyway that how much money you have won't matter nearly as much as it does today
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0 sats \ 4 replies \ @drdoom 29 Aug 2023
How does Bitcoin converge the starting line back to center when you require multimillion dollar investment to reliably mint new coins ?
The same families and corporations that have started at the top of fiat have first advantage to mint the majority of new bitcoins and even if they got a late start on this they can use their existing fiat position to acquire mining infrastructure to become among the few recipients of new coins from here on.
At what point does the starting line go back to center in this scenario? In 2140 when all the coins are minted?
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21 sats \ 0 replies \ @franzap 29 Aug 2023
Fork it and name it Bitcorb, where you can scan eyeballs to distribute it fairly!
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0 sats \ 2 replies \ @birdeye21 OP 29 Aug 2023
Fork it if you think that's a problem!
it doesnt matter how much bitcoin anyone has
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21 sats \ 1 reply \ @drdoom 29 Aug 2023
Fork it if you think that's a problem!
I have been thinking about it:
#237952
it doesnt matter how much bitcoin anyone has
I agree, but then why do you use Bitcoin?
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0 sats \ 0 replies \ @birdeye21 OP 29 Aug 2023
well im glad you're not nodding towards pos at the least lol. Def not smart enough to know how your proposal would play out over time
I use bitcoin to secure my own financial freedom, among many reasons
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