Should we oppose any Crypto-currency which attempt to Centralize and/or Concentrate power/trust to a few individuals?
I ask because it appears that many of the ideas proposed as alternate currencies add centralization to the Bitcoin model rather than attempting to mitigate Centralization of Power. I view *insert name of alternate crypto currency in question but which shall not be named* as being one example of this. To me, these currencies are simply short term currencies whose point of being is to give the backers some short term gains by selling pre-mined coins or by abusing their own code to extract more coins than other users. In other words to get a one up on the competition and thus make money.
Am I right to be skeptical?
I ask because it appears that many of the ideas proposed as alternate currencies add centralization to the Bitcoin model rather than attempting to mitigate Centralization of Power. I view *insert name of alternate crypto currency in question but which shall not be named* as being one example of this. To me, these currencies are simply short term currencies whose point of being is to give the backers some short term gains by selling pre-mined coins or by abusing their own code to extract more coins than other users. In other words to get a one up on the competition and thus make money.
Am I right to be skeptical?
MicroCash doesn't have trust nodes or trust blocks, so it's as centralized as Bitcoin could be called. It does however feature a 51% mining defense which apparently isn't as secure as SolidCoin v2 but they had to make compromises so that they wouldn't get criticized anymore about being "centralized". Realsolid or any other developer can no longer control the chain.
http://solidcointalk.org/topic/591-decay-and-interest-v3-feature-discussion/page__view__findpost__p__6175
