i'm thinking it's impossible to make a completely decentralized cryptocurrency. the game changes, and if you don't have people who fix the issues to address those changes, then the crypto will just die out. hopefully there's a way to do it, and someone innovative will come along.. but at present i don't think it's possible.
so far, we have yet to perfect Monetary Theory itself. There are many different schools of thought (primarily the Austrians and the Keynesian), thus why would we assume that we need to some kind of perfect theory of cryptocoins to have a usable one? Fact is Bitcoin offers features no other technology does. I think there are room for innovations, but there is nothing compelling out there at the moment.
-bm
well, because most people (at least here) love bitcoin mainly because it's supposedly decentralized. when you put power in the hands of the corrupt, then there will be.. corruption.
a lot of people complain about status quo economics.. at least most here.
what happened to the USD when it became centralized? did it's value go up or down?
-bm
U.S. currency has always been centralized.. at least from the date that they started using paper notes. so how do we know when the value has gone up or down? and if you even want to talk about when the federal reserve was instituted, then $1 at that time was worth a lot more than $1 today.
good point, but inflation aside- centralization means better security.
-bm
better security? yeah, probably for those who are controlling it. meanwhile, the others who are not involved in the decision making are the ones beholden to it.
