Topic: Decentralizing Everything with Bitcoin and Ethereum (Read 173 times)

That's certainly true, mate. Adoption is key for the success of crypto and Blockchain technology in the mainstream world. While there are many decentralized solutions available today, the whole industry is still largely dominated by centralized entities. This way, Bitcoin and Ethereum can't fulfill Satoshi's vision of decentralizing finance as we know it. A world where everything is decentralized (finance, data, etc) is key towards long-term prosperity. Capitalism has greatly affected people's ability to control their own assets (whenever tangible or intangible). Both Bitcoin and Ethereum makes a decentralized world possible by eliminating the middleman from the system. People are able to interact with their own money without the need for a custodian. In addition, it's possible to interact with decentralized applications that are always available 24/7. This brings censorship-resistance against established third parties of the world (mostly governments and central banks). Society will flourish like never before in a decentralized world, as no single entity will be in charge of everything.

At least, the idea is there. But everything will depend on the people themselves whenever they'd want to make that happen or not. As long as people continue to use centralized services over decentralized ones, we won't be able to see a change in our lives. Cryptocurrencies and smart contracts platforms will still exist, but their full potential will be greatly diminished. It's sad to see the way crypto and Blockchain technology are heading, dominated by greedy businesses, mainstream corporations, and worldwide governments. I hope that developers would continue to work on decentralized solutions in order to maintain the industry as decentralized as possible. Only then, Bitcoin and Ethereum will be able to be able to properly decentralize everything as we know it. Just my thoughts

Exactly, it will be facing a lot of opposition especially on the Government side. Imagine the SEC they almost scrutinize every project out there who has keep violating what they called rules. Hopefully thr bitcoin and ethereum wouldn't be subjected to regulations cause it will be probably be a worse case event for crypto. Decentralization will vanished as we know it

Some updates have already been promised, most especial on ethereum, as regards its scalability, but none of it has been achievement. So I am still trying to picture or decipher how this is possible. Well, too much of time is not needed for this and the team should be ready to work on it, because it is of utmost importance.

Compete decentralisation can be only achieved with adoption, the more these two cryptocurrencies are accepted as an alternate to fiat the more the work will become free of middlemen.

As of now we consider them more as a commodity than a currency of the future. We need more startup to create products that can help  in the adoption.

The issue that crypto has been facing majorly is adoption. It's possible that Bitcoin and ethereum alone won't be able to make the full decentralization happen as there are many competition in this space. But the one that is good will survive and make this happen .

Yes, for miners. And, maybe some freelancers who get paid in crypto. Maybe some sellers who receive crypto. Others can't do without the middlemen aka exchanges, exchangers, electronic wallets, that is any kind of fiat-crypto gateways.

Not to mention the usage of crypto.


Unbanked? Who do you mean? Those with no access to the internet? Or those who can't afford a PC or smartphone? What's the use?


Do you really believe that etherium is decentralized when so much depends on Vitalik?

Yes!  i whole heartily believe they will    the question i have is will it happen PUBLICLY tho?
the largest patent registers in last year of blockchain techs has been banks, they are implementing backend blockchain stuff to make themselves look good and run faster
while still talking shit and blocking crypto whenever they can
everything WILL have the option to be decentralized, but greed will make many chains private, you wont see a government go public decentralized chain anytime soon lol

It sounds utopian and all of this is certainly cool but we all need to understand what kind of world we live in - at the moment, it is not at all interesting for corporations, and if it becomes interesting, they will still come up with a leash. These are the realities of life.

There are thigns that doesn't need blockchain and I didn't heard this to one person alone.

Why should it just be BTC and ETH, there several platforms that can also do it. They may not be as severely used by different projects but can work efficiently as well. There are problems with the decentralization that we know today though so its yet to be proven to be really decentralized. But this will be dealt when time comes.

I don't think it's as easy as creating decentralized crypto. The main factor is in the hands of the government, and I think it will take some time to create or make decentralized crypto in the mainstream. In fact today people prefer central exchange over DEX. My assumption is not far away that we really see crypto created for real decentralization and no control, if the government starts to see the importance of blockchain technology. But I am a bit unsure of all that.

Decentralization is not possible in some sectors, they will stay but the rest are up to debate on what people want. For example, the simplest approach would be decentralized exchanges, it moves money from one person to another and vice versa for a trade instead of having one central place that takes their money in disguise of trading fee.

Yet here we are, centralized exchanges worth billions of dollars, have no trouble making millions every single day in trading fees yet nobody moves to DEX that fast. So there is a market need question in hand as well, just because something can be decentralized doesn't mean it will be loved for being a decentralized version of an old centralized thing, sometimes market will still pick the centralized one over the decentralized one.

The inception of the Bitcoin blockchain has brought us many advancements in the world of finance. It's now possible for people to own their money without the need for middleman or human intervention. Over time, it has been discovered that Blockchain's capabilities far surpasses those of finance. With the introduction of smart contracts via the Ethereum platform, people can "notarize" their documents, prove their ownership of tangible and intangible items, lend or borrow digital assets in a decentralized manner, and more. Considering that many things are now possible by combining both Bitcoin and Ethereum, I believe that we're heading towards a completely decentralized world as we know it.

Of course, there will always exist centralized services within the mainstream world. But the aforementioned Blockchain platforms provide a whole new era of finance where many unbanked people will gain inclusion in the decentralized realm. As time goes by, both Bitcoin and Ethereum will improve until they're scalable enough for the whole world to use.

Which is why, I believe that both Blockchains will decentralize everything within the not-so-distant future. All it takes for that to happen is adoption and demand from people in the mainstream world. What are your thoughts? Will Bitcoin and Ethereum will be able to decentralize everything as we know it?