7 ms·

> Is it really a cryptocurrency when it's completely centralized? No. What is decentralized about a handful of Chinese miners controlling all supply?

• extropy 7y ago
  That there is a well established (if expensive) method to re-take the decentralized control should things go south. Same for open source software, the best pieces are generally run by a no-nonsense autocrats.
  • emiliobumachar 7y ago
    Could you please expand? If the big Chinese miners go rogue (actually go rogue, take over a currency and actively tries to stop the larger public from taking it back), what recourse does the larger public have? Wouldn't they need more mining power, or an impractical fenced-off network that's still decentralized in some manner?
    • deleted 7y ago
      [deleted]