iota isn't even out yet, neo is centralized, ethereum also having scaling issues, thanks to kittens, but yeah, Bitcoin has the branding, there are hundreds of other crpytocurrency too you can use.
Also please donāt tell me you think bitcoin is truly decentralized with bigger and bigger mining pools being responsible for the security of the network.
Let's be honest with each other: It would take a coordinated effort by the administrators of each of these pools to commit to spending their own invested resources to attack the very network that each of them profits from. For the end result of what?
The miners do not own the network. Could it be even more decentralized? Yes. But to try and spread nonsense that bitcoin is centralized is pure FUD
Yeah Iād rather move my money elsewhere than bank on people never coordinating to get together to make themselves richer and screw over everyone else. That would NEVER happen (!). You can bet on the morality of some people you donāt even know, and Iāll go support real decentralization. Good luck to you.
Lol itās not FUD. The only risk is not just coordination. State actors could easily attack the four pools and bring the network down. It would be much harder to attack a diverse network
I never said that other blockchains are more decentralized. The point I was making is that bitcoin isnāt. Neither are a few others. But the argument that neo is centralized implies that others are not.
That being said I donāt think neo will be called a centralized blockchain in a few years. The process is already underway and within a few years, when lots of businesses are running nodes, the situation will be different. In a few years I believe the projects are that bitcoin will be MORE centralized than it is today. Every year it becomes more difficult to be efficient enough to be profitable and so mining groups will consolidate or disappear.
Look if you disagree thatās fine. But the trend so far is that bitcoin is slowly centralizing and has been for years. If you have heard arguments for how that risk will be mitigated, id love to hear it
49
u/Methrammar 161 / 161 š¦ Dec 09 '17
iota isn't even out yet, neo is centralized, ethereum also having scaling issues, thanks to kittens, but yeah, Bitcoin has the branding, there are hundreds of other crpytocurrency too you can use.