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20 sats \ 3 replies \ @grayruby 30 Sep \ on: The Daily Zap — Latest News and Updates alter_native
I think people often mistake decentralization of ownership and decentralization of the protocol. I don’t like that people are taking the easy way and buying etf shares thus making etf issuers huge holders of bitcoin but I don’t think it changes anything in regards to the decentralization of the protocol.
One area where it might be concerning is social pressure in a contentious fork situation.
Yes, I agree.
One thing I want to add that people always saying that Bitcoin was created in response to 2008 crisis do not get Bitcoin at all. How can the 2008 crisis which wasn't even global alone produce such a divergence to the monetary system people have been using for centuries. Bitcoin is actually a response to the propoganda of Fiat, not to a crisis.
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I think that is just because Satoshi put "chancellor on the brink of a second bailout" in the genesis block. Clearly he had been working on Bitcoin for much longer and the precursors to Bitcoin had been worked on for decades. So I agree that bitcoin probably wasn't created solely as a response to the GFC but maybe that was the tipping point prompted Satoshi to know it was a an idea whose time has come. Who knows what he was thinking. That might have just been the top headline of the day.
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Yes, that's how broadly we should talk about the inception of Bitcoin. I just can't handle when it's narrowed down to one event in history.
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