How do you define "Decentralized Money"?

hermanhs09

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Quote from: AlgoSwan on June 04, 2016, 06:20:20 AM

Here is a possible definition:

The process of “money” is “knowing you’ve been paid”. A process has greater “decentralization” as it “occurs more locally”. Thus “decentralized money” is the local cost of knowing you’ve been paid: the cost of running a full node.

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I believe that a decentralized currency has to be controlled by absolutely no one, and absolutely trustless. So you don't need to trust a bank to process your transfer, and not run away with your cash.

Like BTC is a great example of a decentralized currency.

PantminerS7

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Maybe an even easier definition:
Non-controllable currency

ajun96

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Quote from: sweerty1 on June 07, 2016, 07:54:50 AM

Money without control of government?
Maybe you can also say anarcho capitalist money etc.

I think not only avoid government control. but of control anyone ? including the owner ? other people can not do any intervention on the using of bitcoin on someone. they also can not place a hold or freeze on any purses or wallet

Cybertron00

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'Decentralized Money' A market structure that consists of a network of various technical devices that enable investors to create a marketplace without a centralized location.

bob123

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"Decentralized Money" is money which does not require any Trust on any 3rd Party to move your money from 1 Hand to another.

sweerty1

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Money without control of government?
Maybe you can also say anarcho capitalist money etc.

Bitcoinbee

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Quote from: yayayo on June 06, 2016, 08:54:54 PM

Plain and simple: Decentralized money is money whose authenticity, supply and ownership is not controlled by a central entity.

That's basically all what Bitcoin is about. The core innovation of Bitcoin is solving the authenticity problem in a decentralized way: Via a cryptographic signing process within a blockchain of transactions.

I don't think that "local cost" is directly related to decentralized money. You incur local cost with centralized money as well: You pay bank fees or have to provide appropriate storage capacities if you hold hard cash. Effectively owning anything always generates some kind of cost for the owner. That has nothing to do with (de)centralization.

ya.ya.yo!

Yes it is, that "decentralized Money" is a money that has no specific authority in controlling over it. But eventually it is used and is being circulated and accepted due to its monetary value.

davis196

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Quote from: AlgoSwan on June 04, 2016, 06:20:20 AM

Here is a possible definition:

The process of “money” is “knowing you’ve been paid”. A process has greater “decentralization” as it “occurs more locally”. Thus “decentralized money” is the local cost of knowing you’ve been paid: the cost of running a full node.

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"Decentralized money" means that no central bank,like the Federal reserve system, has control over the

money supply.So no central bank can increase or decrease the money supply to cause inflation or deflation.

This is just my explanation...

Ayers

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when there is not a single istitution that print it like for government, we have miners, but miners isn't one entity they are many, so until all the miners are controlled by a single entity is decentralized imho

PantminerS7

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Money is proof of work, traditionally legitimized by the authorithy that prints the money. Decentralized money is proof of work, where the work is legitimized by the network of peers.

dilution007

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no centralized authority ,no centralized producer.

yayayo

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Plain and simple: Decentralized money is money whose authenticity, supply and ownership is not controlled by a central entity.

That's basically all what Bitcoin is about. The core innovation of Bitcoin is solving the authenticity problem in a decentralized way: Via a cryptographic signing process within a blockchain of transactions.

I don't think that "local cost" is directly related to decentralized money. You incur local cost with centralized money as well: You pay bank fees or have to provide appropriate storage capacities if you hold hard cash. Effectively owning anything always generates some kind of cost for the owner. That has nothing to do with (de)centralization.

ya.ya.yo!

pitham1

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Decentralized money is money where transactions are recorded in a decentralized ledger.
So Bitcoin (and all other alts) would qualify as decentralized money.

yubsep

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Read this article https://bitcoinmagazine.com/articles/bitcoin-truly-decentralized-yes-important-1421967133
Maybe help you...

AlgoSwan

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ancap

Here is a possible definition:

The process of “money” is “knowing you’ve been paid”. A process has greater “decentralization” as it “occurs more locally”. Thus “decentralized money” is the local cost of knowing you’ve been paid: the cost of running a full node.

What's yours?

Topic: How do you define "Decentralized Money"? (Read 656 times)