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Topic: Who needs Satoshi Nakamoto principles? - page 6. (Read 1109 times)

legendary
Activity: 2128
Merit: 1293
There is trouble abrewing
December 09, 2019, 09:33:33 AM
#3
As we all know, mining is now completely centralized.
you thinking some way doesn't mean everyone else thinks the same and it certainly doesn't mean it is correct!



Quote
Big money buys expensive equipment in the form of ASIC / GPU / FPGA devices and deprives everyone else of the right to participate in the issue of cryptocurrencies.
it is not that expensive to need "big money". and nobody is preventing YOU from buying an ASIC and mining bitcoin with it. the only problem is that others who buy ASICs believe in bitcoin whereas YOU don't and because of that you don't want to make that kind of investment!
sr. member
Activity: 1150
Merit: 260
☆Gaget-Pack☆
December 09, 2019, 09:19:06 AM
#2
"Proof-of-work is essentially one-CPU-one-vote."
Satoshi nakamoto





As we all know, mining is now completely centralized. Big money buys expensive equipment in the form of ASIC / GPU / FPGA devices and deprives everyone else of the right to participate in the issue of cryptocurrencies.

Questions:

Does the modern cryptocurrency community need this principle of Satoshi Nakamoto?

Maybe it's time to abandon it and admit that ONLY money should always release new money?


Huh

No they don't need all of Satoshi's principles, his system isn't perfect, no system is. Bitcoin wasn't designed to last forever, it was a proof of concept for Blockchain, and an alternative financial system to traditional banking, why do you think the entire project is open source?
 It's open source so that others can build upon or off Blockchain and Bitcoin protocol, to enhance it and add to it, making it better. Bitcoin is only the prototype protocol. There are better Blockchains and cryptocurrencies on the market.
member
Activity: 264
Merit: 13
December 09, 2019, 04:23:25 AM
#1
"Proof-of-work is essentially one-CPU-one-vote."
Satoshi nakamoto





As we all know, mining is now completely centralized. Big money buys expensive equipment in the form of ASIC / GPU / FPGA devices and deprives everyone else of the right to participate in the issue of cryptocurrencies.

Questions:

Does the modern cryptocurrency community need this principle of Satoshi Nakamoto?

Maybe it's time to abandon it and admit that ONLY money should always release new money?


Huh
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