Author: kjj 2014-03-26 01:09:01
Published on: 2014-03-26T01:09:01+00:00
The discussion is about the decentralization of Bitcoin and its development. Mark Friedenbach believes that Bitcoin is not centralized and neither is its development. However, Troy Benjegerdes disagrees and thinks that there are a couple of mining cartels that control most of the hashrate. He also mentions that interesting alt-hash-chains for which mass-produced hardware exists and is in high volume mass production. Troy believes that decentralized doesn't mean "everyone is doing it", it means "no one can stop you from doing it". He gives an example of bitcoin development where a few people do the bulk of the work, a bunch more people do work ranging from minor to trivial, and millions do nothing. And yet, it is still totally decentralized because no one can stop anyone from making changes they want.Troy also talks about mining and says that while it may be impractical or foolish to mine solo, no one is stopping anyone from doing it. There is no center from which you must ask permission. Lastly, he notes that moderation can also be done in a decentralized fashion and offers an example.
Updated on: 2023-06-08T15:37:11.737407+00:00