Topic: Justin Bons Said Ethereum is More Decentralized Than Bitcoin - page 3. (Read 537 times)
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.
I'm not an expert here, it's just that as far as i know bitcoin & ethereum have different structures for decentralization, bitcoin uses proof of work while ethereum uses proof of stake and clearly proof of work is more decentralized.
Technology and prices don't always go hand in hand, i'm not here for ethereum but just to straighten out point of view about the relationship between technology and prices. shiba inu has a larger market cap than litecoin according to coinmarketcap data [1], so does that make shiba inu technology greater than litecoin? not at all.
[1] https://coinmarketcap.com/
if ethereum is so decentralised.. then why is its market rate not independant
just look at the prices of the markets. ethereum follows bitcoin like a shadow. from may 2021 ethereum lost its independent sentiment of utility and just became a shadow to bitcoins market.. ranging from 1btc:12eth to 1btc:20eth, slowly staying close 9#% of the time but slowly losing its own value by not being able to keep up with a 1btc:12eth peg
notice how wildly independent ethereum:btc was pre may 2021.. and then how pegged, stable it became after may 2021
just look at the prices of the markets. ethereum follows bitcoin like a shadow. from may 2021 ethereum lost its independent sentiment of utility and just became a shadow to bitcoins market.. ranging from 1btc:12eth to 1btc:20eth, slowly staying close 9#% of the time but slowly losing its own value by not being able to keep up with a 1btc:12eth peg
notice how wildly independent ethereum:btc was pre may 2021.. and then how pegged, stable it became after may 2021
Technology and prices don't always go hand in hand, i'm not here for ethereum but just to straighten out point of view about the relationship between technology and prices. shiba inu has a larger market cap than litecoin according to coinmarketcap data [1], so does that make shiba inu technology greater than litecoin? not at all.
[1] https://coinmarketcap.com/
i never even mentioned market cap. and has nothing to do with market cap
its got nothing to do with and i never said who was the greatest..
point is
if 2 different projects that do 2 different things. had 2 different sets of communities valuing 2 projects differently. where the projects evolve separately and upgrades happen at different times to drive sentiments of value and supply/demand to differ.. all at different times for totally different independent reasons
then there would NOT BE soo close a shadow, peg, copy of one market on the other
yet because ethereum does not have much of its own independentness to drive its own value sentiment. then it ends up just centrally copying the better currency, emulating it and using it to try finding value as it doesnt have much independent value demand/supply of its own to counter the zombie chase
..
i could move onto other examples of ethereums lack of independence,, you know STAKING.. hint is in the name so needs no explanation
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Ethereum leads in decentralization, thanks to its robust validator ecosystem and client diversity
Not when they are using proof of stake where one with the biggest gun takes the shot.Talks about diversity? What's diversity where there are 100's of ant and few elephants
The more money staked
The more control one gets
So how's something of this nature more decentralized than Bitcoin.
Quote
shiba inu has a larger market cap than litecoin according to coinmarketcap data [1], so does that make shiba inu technology greater than litecoin? not at all.
This is differentShiba inu is a meme while Litecoin is a failed Bitcoin knock off
He's not comparing technology to price
What he meant is that if Ethereum is so great it's price movement wouldn't be mirroring Bitcoin and this became worse after the switch to POS.
Ethereum became more centralized after their so called upgrade.
I'm not an expert here, it's just that as far as i know bitcoin & ethereum have different structures for decentralization, bitcoin uses proof of work while ethereum uses proof of stake and clearly proof of work is more decentralized.
Technology and prices don't always go hand in hand, i'm not here for ethereum but just to straighten out point of view about the relationship between technology and prices. shiba inu has a larger market cap than litecoin according to coinmarketcap data [1], so does that make shiba inu technology greater than litecoin? not at all.
[1] https://coinmarketcap.com/
if ethereum is so decentralised.. then why is its market rate not independant
just look at the prices of the markets. ethereum follows bitcoin like a shadow. from may 2021 ethereum lost its independent sentiment of utility and just became a shadow to bitcoins market.. ranging from 1btc:12eth to 1btc:20eth, slowly staying close 9#% of the time but slowly losing its own value by not being able to keep up with a 1btc:12eth peg
notice how wildly independent ethereum:btc was pre may 2021.. and then how pegged, stable it became after may 2021
just look at the prices of the markets. ethereum follows bitcoin like a shadow. from may 2021 ethereum lost its independent sentiment of utility and just became a shadow to bitcoins market.. ranging from 1btc:12eth to 1btc:20eth, slowly staying close 9#% of the time but slowly losing its own value by not being able to keep up with a 1btc:12eth peg
notice how wildly independent ethereum:btc was pre may 2021.. and then how pegged, stable it became after may 2021
Technology and prices don't always go hand in hand, i'm not here for ethereum but just to straighten out point of view about the relationship between technology and prices. shiba inu has a larger market cap than litecoin according to coinmarketcap data [1], so does that make shiba inu technology greater than litecoin? not at all.
[1] https://coinmarketcap.com/
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.
it doesnt have its own independent sentiment of market utility, so is not wildly different compared to bitcoin. so just centrally follows bitcoin based on the bitcoin market sentiment
in short there are not enough ETH people valuing ethereum independently to depeg ethereum from just being used as a shadow arbitrage tool for bitcoiners
from may 2021 ethereum lost its independent sentiment of utility and just became a shadow to bitcoins market.. ranging from 1btc:12eth to 1btc:20eth, slowly staying close 9#% of the time but slowly losing its own value by not being able to keep up with a 1btc:12eth peg
notice how wildly independent ethereum:btc was pre may 2021.. and then how pegged, stable it became after may 2021
just look at the prices of the markets. ethereum follows bitcoin like a shadow 9#% of the time.
it doesnt have its own independent sentiment of market utility, so is not wildly different compared to bitcoin. so just centrally follows bitcoin based on the bitcoin market sentiment
in short there are not enough ETH people valuing ethereum independently to depeg ethereum from just being used as a shadow arbitrage tool for bitcoiners
from may 2021 ethereum lost its independent sentiment of utility and just became a shadow to bitcoins market.. ranging from 1btc:12eth to 1btc:20eth, slowly staying close 9#% of the time but slowly losing its own value by not being able to keep up with a 1btc:12eth peg
notice how wildly independent ethereum:btc was pre may 2021.. and then how pegged, stable it became after may 2021
You mean Justin Sun, not Justin Jon.
Ethereum was an ICO. Some of its supplies were premined just like other centralized coins.
Ethereum went from PoW to PoS. Which is another centralization. If you do not have a certain amount of ETH, you can not be a validator which is a protocol.
If people should said which one is centralized, it is Ethereum.
Bitcoin developers were not the one that created BRC tokens and Ordinal NFTs. Ethereum created ERC tokens.
Ethereum was an ICO. Some of its supplies were premined just like other centralized coins.
Ethereum went from PoW to PoS. Which is another centralization. If you do not have a certain amount of ETH, you can not be a validator which is a protocol.
If people should said which one is centralized, it is Ethereum.
Bitcoin developers were not the one that created BRC tokens and Ordinal NFTs. Ethereum created ERC tokens.
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?
Bitcoin was solely made to replace the usual currency - FIAT. I'm gonna say, it hasn't fulfilled its purpose entirely but this whole decentralization was put in place through that path; a path that ethereum only improvised on some protocols ... maybe like introducing smart contracts, DEFIs and NFTs... That doesn't make the coin more decentralized than Bitcoin, does it?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.
exactly! Why hasn't it grown beyond it's 4k limit since 2021? Secondly, what's this DApps liverage that made ethereum to create a version of BTC on Thier network? Read about that a couple of weeks ago and I didn't go into details anyway.just look at the prices of the markets. ethereum follows bitcoin like a shadow 9#% of the time.
Sandra 🧑🦰
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? Could it be the reason the SEC isn't bothering Ethereum and may even approve spot ETH ETF?
Here's what he wrote:
"Bitcoin (BTC) – Score: 29/60
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.
Client Ecosystem: Dominated by Bitcoin Core, leading to a 1/10 score.
Permissionless Nature: Scores a perfect 10/10, with no permissioned elements.
Governance: Lacks on-chain governance, resulting in a 0/10.
Consensus Mechanism: Proof of Work (PoW) without native delegation, scoring 5/10.
Community Diversity: A growing “wizard faction” contributes to a 5/10 score.
Ethereum (ETH) – Score: 43/60
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.
Permissionless and Governance: Shares Bitcoin’s lack of on-chain governance, scoring 0/10, but is fully permissionless, scoring 10/10.
Consensus Mechanism: Transitioned to Proof of Stake (PoS) without native delegation, earning a 7/10.
Community: Its vast ecosystem with many united factions scores a 6/10.
Solana (SOL) – Score: 32/60
Solana presents a mixed picture with high validator counts but challenges in its consensus mechanism:
Validator Count: A high validator count scores 7/10.
Client Ecosystem: A reasonably diverse ecosystem earns a 7/10.
Permissionless Nature: Like Ethereum, it scores a 10/10.
Consensus Mechanism: Proof of History (PoH) and high node requirements lower its score to 2/10.
Governance: Has plans for on-chain governance, scoring 3/10.
Community: A big ecosystem with few factions scores a 3/10.
XRP (Ripple) – Score: 17/60
XRP struggles with decentralization, particularly in validator diversity and permissioned elements:
Validator Count and Client Ecosystem: Scores the lowest in these categories, with 1/10 and 0/10 respectively.
Permissioned Elements: The presence of permissioned elements further reduces its score to 0/10.
Governance and Community: No plans for on-chain governance and a small ecosystem with powerful factions result in low scores.
Cardano (ADA) – Score: 35/60
Cardano shows promise with high scores in permissionless nature and plans for on-chain governance:
Validator Count: A high unique validator count scores 7/10.
Permissionless Nature: Scores a perfect 10/10.
Consensus Mechanism: Native delegation and plans for on-chain governance contribute to higher scores in these areas.
Avalanche (AVAX) and TRON (TRX)
Both blockchains present unique cases in decentralization, with Avalanche showing strength in its governance model and TRON in its fully implemented on-chain governance."
Here's what he wrote:
"Bitcoin (BTC) – Score: 29/60
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.
Client Ecosystem: Dominated by Bitcoin Core, leading to a 1/10 score.
Permissionless Nature: Scores a perfect 10/10, with no permissioned elements.
Governance: Lacks on-chain governance, resulting in a 0/10.
Consensus Mechanism: Proof of Work (PoW) without native delegation, scoring 5/10.
Community Diversity: A growing “wizard faction” contributes to a 5/10 score.
Ethereum (ETH) – Score: 43/60
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.
Permissionless and Governance: Shares Bitcoin’s lack of on-chain governance, scoring 0/10, but is fully permissionless, scoring 10/10.
Consensus Mechanism: Transitioned to Proof of Stake (PoS) without native delegation, earning a 7/10.
Community: Its vast ecosystem with many united factions scores a 6/10.
Solana (SOL) – Score: 32/60
Solana presents a mixed picture with high validator counts but challenges in its consensus mechanism:
Validator Count: A high validator count scores 7/10.
Client Ecosystem: A reasonably diverse ecosystem earns a 7/10.
Permissionless Nature: Like Ethereum, it scores a 10/10.
Consensus Mechanism: Proof of History (PoH) and high node requirements lower its score to 2/10.
Governance: Has plans for on-chain governance, scoring 3/10.
Community: A big ecosystem with few factions scores a 3/10.
XRP (Ripple) – Score: 17/60
XRP struggles with decentralization, particularly in validator diversity and permissioned elements:
Validator Count and Client Ecosystem: Scores the lowest in these categories, with 1/10 and 0/10 respectively.
Permissioned Elements: The presence of permissioned elements further reduces its score to 0/10.
Governance and Community: No plans for on-chain governance and a small ecosystem with powerful factions result in low scores.
Cardano (ADA) – Score: 35/60
Cardano shows promise with high scores in permissionless nature and plans for on-chain governance:
Validator Count: A high unique validator count scores 7/10.
Permissionless Nature: Scores a perfect 10/10.
Consensus Mechanism: Native delegation and plans for on-chain governance contribute to higher scores in these areas.
Avalanche (AVAX) and TRON (TRX)
Both blockchains present unique cases in decentralization, with Avalanche showing strength in its governance model and TRON in its fully implemented on-chain governance."
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