Does Bitcoin achieve true decentralization?

According to news reports, on July 3, the chairman of Xincheng Holdings and the girl were arrested. After the news, the stock price of Hong Kong stocks New Town Development Holdings plunged, the biggest drop was as high as 37%. The down limit, the daily limit of the closing limit of the company exceeded 10 billion yuan, and the market value of Hong Kong stocks plus A shares in the two days evaporated nearly 30 billion.

Due to the influence of the company's entity value, once the company's entity changes, or the executives have a scandal, it is reflected in the company's stock price. The other mature financial markets of Hong Kong stocks and US stocks do not have a limit. Time runs away and losses are reduced. The problem is limited by the ups and downs in the domestic Shanghai and Shenzhen stock markets. Once the black swan incident occurs, the retail investors basically become the fish on the cutting board, and there is no chance of escape.

Centralized companies are too directly affected by company changes and personal influences of executives, and it is simply unmatchable for Bitcoin.

After the early development of Bitcoin, Nakamoto has left the community. Until now, in the past ten years, Nakamoto has still held 100w bitcoin, no matter whether it is sold or not, or Nakamoto is the greatest in the true sense. Value investor.

• No hope for five consecutive years, BTC or the largest single-day decline in the US independence day
• Market Analysis: The long and short battles are increasingly glued, and the bitcoin is about to rebound.
• The Ethereum beacon chain will be launched in 2020, and the annual inflation rate of the new PoS chain is a key consideration.

For many senior Bitcoin players, Bitcoin represents not a currency, but a credit system that they particularly yearn for fairness, transparency, personal freedom, and no inflation. We can call it bitcoin liberalism. In the whole system, there is no credit subject. Even if Nakamoto appears now, it will not affect the development of Bitcoin to a great extent. At most, the old man has no money to sell bitcoin, short-term for bitcoin. Prices have a certain amount of volatility, nothing more. In the Bitcoin network, everyone is equal credit nodes, equal rights and checks and balances.

Compared with financial institutions, it is the centralization of credit subjects, inequality, and inflation.

Does Bitcoin achieve decentralization in the true sense?

Human archaeology believes that in the process of human society's currency formation, a powerful power body has always followed, regardless of whether the power body is a sovereign state, a chieftain, or a certain family. Moreover, the more extensive the use of large-scale, the more need a strong credit subject, such as Caesar wrote several articles about the bank, interested to see.

Money is a consensus on value, but the difficulty of reaching consensus among people is sometimes not solved by technology.

The creation of credit subjects is actually turning this multilateral consensus into a point-to-point collaboration, which greatly standardizes and simplifies this process.

The credit mechanism of Bitcoin relies on distributed accounting, and all nodes must form a consensus in complete synchronization.

When Bitcoin Bitcoin is probably only tens of thousands of nodes, internal differentiation has begun to take shape. Constantly generating line differences, the current bitcoin cash and csw bsv are essentially the differentiation of the Bitcoin community. When the number of nodes reaches a certain level, this differentiation is almost inevitable.

Whether it is from the history of human society or from the current technical constraints, Bitcoin has to achieve credit-substantialization within a large scope. It seems that it is not a fait accompli.

The first feeling of many people is that every node of Bitcoin is "equal to equal rights," but you will know if you think about it, this is not realistic.

Give you a different scene, for example, a mine of the same size now, a miner using a hoe and a shovel, and another excavator to open the mine. Will these two people be the same? In fact, such a thing happens in the mining of Bitcoin.

In bitcoin mining, computing power is the determining factor. Therefore, those "miners" who have huge energy consumption and large servers are beginning to become more and more dominant. Including the largest Bitcoin continent now, Wu Jihan can only be forked by his own power, and the whole core game rules of Bitcoin are actually in the hands of the core party, and the fork is also the process of mutual interest game.

However, it does not affect Bitcoin decentralization, multi-node distribution, at least not a single one. Pessimists believe that Bitcoin networks are not really without central nodes and monopolistic nodes. It is only a technology center and a computing center. It is not unreasonable that monopoly has replaced the center and monopoly position of the original sovereign state.

The latecomers involved in Bitcoin mining did not receive real fair treatment, and it was also the biggest criticism of Bitcoin decentralization. About 99% of the world's people don't know how Bitcoin works and how it works. Even if people who know it are not on the same starting line as the early people, today, Bitcoin's entire network computing power is approaching the highest point in history, and the real-time computing power is 69.48EH/s.

Bitcoin replaces the national center with a technical center, replaces the credit subject of the state machine with the collective credit of technical geeks, and replaces the inequality of status with the inequality of computing power.

From a harsh point of view, Bitcoin has not really achieved decentralization and equalization, but it has preserved the fire for decentralization and continues to develop itself.

Someone slammed bitcoin 99% in the hands of 1% of people, it can be said to be nonsense. The world has a bitcoin of 50w, considering the number of people involved in cryptocurrency, but the 2000w person, bitcoin computing power and asset more accurate is a pan-centered network.

Even so, all of the above does not affect Bitcoin as the greatest decentralized currency, because the perfect world does not exist.

Author: Bitcoin Caesar

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