Author: William Miller 2015-08-31 20:44:20
Published on: 2015-08-31T20:44:20+00:00
In a conversation on the bitcoin-dev mailing list, Mike Hearn agreed with Justus Ranvier's opinion that decentralization is misunderstood and that those who claim to support it do not have a clear definition of what it means. Monarch argued that without decentralization as an ultimate goal, Bitcoin is an abomination that is best dismantled. The argument was countered by Justus Ranvier, who stated that Monarch failed to understand the value proof of work provides and what features differentiate good money from poor money. He also said that distracting users with a word that means nothing is not a strategy that can be successful in the long term. Another participant expressed concern over centralization in mining and how big companies are accumulating hardware, posing a threat to the long-term decentralization of the Bitcoin network.
Updated on: 2023-06-10T21:40:35.820414+00:00