What's the point in listening to what altcoin people say? Of course they are going to promote the coins that they are heavily invested in and attack Bitcoin, because they say that their altcoins will replace it.
If people were doing their research, they would know that altcoins all have centralized development, huge premines and typically high degree of centralization on the protocol level. And on top of that they have no real world uses - so they always collapse when the market moves on to new hyped investments.
Topic: Justin Bons Said Ethereum is More Decentralized Than Bitcoin - page 2. (Read 441 times)
Ethereum is a joke. Forget about the censorship and Proof-of-Stake. Over 70% of ETH was premined. That's all the information I need to argue it's less decentralized centralized.
Bitcoin has 18,215 nodes, while Ethereum has only 6,347 nodes. So BTC has more validators than ETH, the real validator is the one who run full node, not someone who stake their tokens to earn interest.
"Full nodes" play an unimportant role in decentralization, and it'd be my last resort as an argument. Mining is what keeps things decentralized. It's not perfect when miner have full right to decide which transaction to be included on their mined block.
Why not? They have right over which transactions they include on their block, not on other miners' blocks. 
Ethereum is the shitcoin that abandoned it's one USP "Code is law" the moment is was convenient for the rich creator and his friends. The guy in charge created a hard fork to protect their money instead of being a reliable block chain. The fact that it's centrally controlled is really all you need to know.
But this is a good shitcoin, right? 
Even without decentralization. Of course, one can't say about any decentralization in the case of ethereum, and certainly that this decentralization is better than that of bitcoin. Statements to the contrary by public figures in the cryptoindustry will not be seen as anything other than a shilling. All this talk about ethereum's decentralization looks like complete stupidity to people who are more or less in the know. But this shitcoin is really good though.
Sure, Ethereum is more decentralized, Vitalik owns 285 Million ETH (Satoshi is dead or doesn't exist anymore, so the fact that Bitcoin's founder owns million Bitcoin doesn't doesn't apply to Bitcoin). Ethereum devs proposed validator limit increase From 32 To 2048 ETH, sure, a way for more decentralization, right?
It is two things to show Ethereum is not more decentralized than Bitcoin.It was premined. The founder has great percent of ETH in total supply.
Its has very little validators and can not compare to Bitcoin nodes.
Lastly its blockchain was rolled back.
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Also, it follows Bitcoin's price, it's such a decentralized.
It is not related to decentralized or centralized even it's fact that Ethereum does not lead cryptocurrency market but Bitcoin leads it. 
Sure, Ethereum is more decentralized, Vitalik owns 285 Million ETH (Satoshi is dead or doesn't exist anymore, so the fact that Bitcoin's founder owns million Bitcoin doesn't doesn't apply to Bitcoin). Ethereum devs proposed validator limit increase From 32 To 2048 ETH, sure, a way for more decentralization, right? Also, it follows Bitcoin's price, it's such a decentralized.
Bitcoin, the pioneer of blockchain technology, showcases a strong foundation in certain aspects of decentralization:
Validator Count: It has the second-highest validator count, earning an 8/10.
Validator Count: It has the second-highest validator count, earning an 8/10.
If he refer to total Bitcoin nodes,
Client Ecosystem: Dominated by Bitcoin Core, leading to a 1/10 score.
It's true most nodes use Bitcoin Core. But it totally ignore existence of other Bitcoin full node software.
Permissionless Nature: Scores a perfect 10/10, with no permissioned elements.
It's not perfect when miner have full right to decide which transaction to be included on their mined block.
Governance: Lacks on-chain governance, resulting in a 0/10.
Giving 0/10 is ridiculous, on-chain government doesn't always offer better decentralization mainly due to who can vote and weight of their vote.
Consensus Mechanism: Proof of Work (PoW) without native delegation, scoring 5/10.
Without detailed reasoning, i feel 5/10 is rather low score.
Community Diversity: A growing “wizard faction” contributes to a 5/10 score.
I don't know what he mean by "wizard faction". But i agree Bitcoin community could be more diverse.
I've always suspected that big players like Bitmain could build a lot of hashrate to increasingly centralize Bitcoin. For the experts in the house, how true is it that Ethereum is more decentralized than Bitcoin?
I'm not expert, but personally i say not true when the measurement has some flaws and lack of explanation.
Ethereum is the shitcoin that abandoned it's one USP "Code is law" the moment is was convenient for the rich creator and his friends. The guy in charge created a hard fork to protect their money instead of being a reliable block chain. The fact that it's centrally controlled is really all you need to know.
Ethereum has been centralized from its PoS and right from the beginning of the project. The developers like Vitalik Buterin are centrally controlling the coin. Just like you said, the original coin is ethereum classic. The developers called the former ether as ethereum classic and hard forked the new coin as ether which he moved to. That is a shady project that paved way for coins like the recent luna which the original token which was called luna is now called lunc. The influence those Buterin have on ethereum is too much and that is enough to even call it centralized.
Consider a cryptocurrency that was rolled back by a decision of a founder and group of core developers, is decentralized and more decentralized than Bitcoin is just nothing more than stupid.
I don't know Justin Bons but his thinking is seriously wrong.
What Was The DAO?.
The DAO Hack Remedy Forks Ethereum.
I don't know Justin Bons but his thinking is seriously wrong.
What Was The DAO?.
The DAO Hack Remedy Forks Ethereum.
Ethereum is the shitcoin that abandoned it's one USP "Code is law" the moment is was convenient for the rich creator and his friends. The guy in charge created a hard fork to protect their money instead of being a reliable block chain. The fact that it's centrally controlled is really all you need to know.
You mean Justin Sun, not Justin Jon.
OP calls the name Justin Bons. Bons, Jon, Sun - so who are we talking about (the topic title displays all this variety of names)? So who is this crypto-guru whose words we should fully heed? Ethereum was an ICO. Some of its supplies were premined just like other centralized coins.
For me, a clear sign of the lack of decentralization is the presence of a founder / founders (Buterin is not the only one behind the entire project), who have a huge influence on the project Ethereum. if ethereum is so decentralised.. then why is its market rate not independent
just look at the prices of the markets. ethereum follows bitcoin like a shadow 9#% of the time.
But won’t just look at the prices of the markets. ethereum follows bitcoin like a shadow 9#% of the time.
Ethereum as the biggest centralized shitcoin is one of those altcoins that people usually claimed is "better than bitcoin" in different aspects like decentralization, speed, fee, price, security, ... but the reality is that they are all worse in all those things without exception.
Look even at the largest Tokens it has. Centralized Tokens on an already Centralized Cryptocurrency. It is the worst mixture you can get.Buy USDT! Be happy holding a Cryptocurrency that can be seized at any given point in time. Or just frozen so you can experience the dread of never being able to use your own money again. How nice is that, yes?
For as long as bitcoin existed and the alternative coins market was created, some people started bag holding shitcoins and then started advertising them as "better than bitcoin" in order to get them hyped up and consequently pumped so that they can make some money from that pump.
Ethereum as the biggest centralized shitcoin is one of those altcoins that people usually claimed is "better than bitcoin" in different aspects like decentralization, speed, fee, price, security, ... but the reality is that they are all worse in all those things without exception.
Ethereum as the biggest centralized shitcoin is one of those altcoins that people usually claimed is "better than bitcoin" in different aspects like decentralization, speed, fee, price, security, ... but the reality is that they are all worse in all those things without exception.
No matter how you take it. There is no way Proof of Stake can ever be more Decentralized than Proof of Work. This is all we need to say. Ethereum puts the Wealthy into control. Bitcoin gives every body the control handle.
Ethereum is what started as a heavily Centralized Cryptocurrency and is now choosing to only become slightly more Centralized every now and then. If you want a comparison, make a legitimate and fair one. These are incomparable.
Ethereum is what started as a heavily Centralized Cryptocurrency and is now choosing to only become slightly more Centralized every now and then. If you want a comparison, make a legitimate and fair one. These are incomparable.
You mean Justin Sun, not Justin Jon.
@OP is correct, this is his twitter https://x.com/Justin_Bons?s=20Bitcoin, the pioneer of blockchain technology, showcases a strong foundation in certain aspects of decentralization:
Validator Count: It has the second-highest validator count, earning an 8/10.
Ethereum leads in decentralization, thanks to its robust validator ecosystem and client diversity:
Validator Count and Client Ecosystem: Achieves top marks in both, with a 10/10 for the highest validator count and most diverse client ecosystem.
Incorrect.Validator Count: It has the second-highest validator count, earning an 8/10.
Ethereum leads in decentralization, thanks to its robust validator ecosystem and client diversity:
Validator Count and Client Ecosystem: Achieves top marks in both, with a 10/10 for the highest validator count and most diverse client ecosystem.
Bitcoin has 18,215 nodes, while Ethereum has only 6,347 nodes. So BTC has more validators than ETH, the real validator is the one who run full node, not someone who stake their tokens to earn interest.
But this isn't surprising at all since he's a Bitcoin hater, just like Warren Buffet. He wrote an article about 14 reasons to not invest in BTC.
Bitcoin is more centralized because the miner rigs are spread out throughout the world. It used to be centered around China but lately it has expanded into many countries and it’s fairly distributed.
Ethereum was more decentralized when it was POW, many people just mined with their gpus and did it as a hobby. But now you need to own a large amount of ETH to be able to stake. Most retail cannot afford this amount, it’s mostly centered around the rich.
Ethereum was more decentralized when it was POW, many people just mined with their gpus and did it as a hobby. But now you need to own a large amount of ETH to be able to stake. Most retail cannot afford this amount, it’s mostly centered around the rich.
I don’t understand the whole decentralization comparison when it is crystal clear the bitcoin nodes and how it works explain a true decentralized network, just any one can be part of the node but that doesn’t relay to Ethereum chain where validators are mostly the center of attention for the network decision making which defeats the whole point of decentralization.
The funniest thing is that BTC doesn't have CEO, it's just works. But ETH has Vitalik, who can do whatever he wants with it. It can't be decentralized by definition.
Is this a joke? Ethereum had a pre-mine with founders backed by big money VC investors that dumped on retail.
That is the exact opposite of decentralization and the precise definition of a security pump and dump.
If that wasn't bad enough, the founders of ethereum have been pushing heavily for US central bank CBDCs to run on the ethereum network.
They have published a white paper on how this should be accomplished and make no secret about their intentions.
The white paper is freely available on the Consensys website, a company founded by ethereum devs to support ethereum.
In light of all this, the idea that ethereum is decentralized in any way shape or form is completely laughable.
That is the exact opposite of decentralization and the precise definition of a security pump and dump.
If that wasn't bad enough, the founders of ethereum have been pushing heavily for US central bank CBDCs to run on the ethereum network.
They have published a white paper on how this should be accomplished and make no secret about their intentions.
The white paper is freely available on the Consensys website, a company founded by ethereum devs to support ethereum.
In light of all this, the idea that ethereum is decentralized in any way shape or form is completely laughable.
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Central Banks and the Future of Digital Money
An introduction to central bank digital currencies (CBDCs), their advantages for retail and wholesale payments,
and a proposed architecture for a successful implementation on Ethereum.
https://consensys.io/solutions/payments-and-money/cbdc
An introduction to central bank digital currencies (CBDCs), their advantages for retail and wholesale payments,
and a proposed architecture for a successful implementation on Ethereum.
https://consensys.io/solutions/payments-and-money/cbdc
I know Justin Sun as a good marketer but not much of an analyst who says what the opinion of users are currently.
He has a whole lot to attend to on the chains he controls, he should focus more on making them usable and globally accepted and used just like Ethereum and Bitcoin rather than give us analysis that does not resonate with a whole lot of people.
I consider his opinion baseless and should be discounted as a point to consider by anyone in the space.
He has a whole lot to attend to on the chains he controls, he should focus more on making them usable and globally accepted and used just like Ethereum and Bitcoin rather than give us analysis that does not resonate with a whole lot of people.
I consider his opinion baseless and should be discounted as a point to consider by anyone in the space.
I don’t understand the whole decentralization comparison when it is crystal clear the bitcoin nodes and how it works explain a true decentralized network, just any one can be part of the node but that doesn’t relay to Ethereum chain where validators are mostly the center of attention for the network decision making which defeats the whole point of decentralization.
Do not think too much about this, whenever you read statements like that you need to think about the intention behind them, and it is obvious this is an attempt to try to make altcoins more appealing than bitcoin and hype them for the upcoming bull run, while trying to keep bitcoin in check at the same time, will it work? I suppose, especially with those that know nothing about this market, but for those that have been around for some time we can easily see the intent behind it.Yep. In the crypto world, talks about decentralization can be a sneaky way to hype up altcoins and make them look better than Bitcoin. This comparison like giving Ethereum a higher decentralization score seems like a move to grab attention and build excitement especially for the upcoming bull run. If you've been in the game for a while, you can see through the marketing tactics. It's a reminder to stay sharp and not get swayed by the buzz because there's often more to these comparisons than meets the eye
I don’t understand the whole decentralization comparison when it is crystal clear the bitcoin nodes and how it works explain a true decentralized network, just any one can be part of the node but that doesn’t relay to Ethereum chain where validators are mostly the center of attention for the network decision making which defeats the whole point of decentralization.
Do not think too much about this, whenever you read statements like that you need to think about the intention behind them, and it is obvious this is an attempt to try to make altcoins more appealing than bitcoin and hype them for the upcoming bull run, while trying to keep bitcoin in check at the same time, will it work? I suppose, especially with those that know nothing about this market, but for those that have been around for some time we can easily see the intent behind it. Jump to: