Oddbean new post about login | logout No it isn't, mining is centralized, and yes core devs and mining pools can dictate and are dictating how people should interact with their wealth 👀 Bitcoin is NGU tech not Freedom Tech rigth now. Monero is the ultimate freedom digital tool.
Okay Anon…then why does the free market value #Bitcoin more than Monero? Why aren’t Wall Street & institutions investing in Monero? And even if mining power was centralized and core devs allow changes to the protocol…I choose what software to run on my node to participate in the network. My node is anonymous on the web. Nodes control the network and Nodes are not centralized.
Because wall street and institutions cant control Monero. Free market? You say free market decides the price when a coin is deplatformed from exchanges and another isnt? I would love to see the difference between the two coins if both are banned.
Monero is centralized. It has better privacy than #Bitcoin but hopefully that tech will eventually be adopted by #Bitcoin.
If nodes control the network like you say, and Bitcoin is decentralized because of that, then so is Monero: https://monero.fail/map
Surely in Europe and US there is lot of nodes, but it’s not about geographic centralisation, it’s more about power centralisation, 2 pools own around 70% of the network wich is not so good, but supposing 51% attack, they will be able to validate their own invalid transactions and reject all others transactions, they will not be able to selectively block transactions because every transactions is anonymous. But in Bitcoin, if 51% attack happens, they will be able to selectively reject transactions, like in Ethereum actually. The main difference is if Bitcoin become overtaken, many people will don’t care because they will be able to transact normally, but Bitcoin will be compromized... hope Bitcoin will go in the privacy way more in future 😉
Nodes don’t control the network, miners did, they accept or reject the transactions. Because transactions are public, miners are like banks, like in Ethereum, they are able to deny someone's transaction, it’s not here yet but it will eventually be later if the majority of mining is OFAC compliant. Your anonymous relay will not be able to change that
Denying a transaction in Monero is not possible, thanks to the anonymity of sender, reicever and amount. Every transactions on Monero is private not public. But in Bitcoin, Ether and others, the censorship is possible and it’s happening everytime on Ether for example where around 50% of the network is censorship compliant. The market can be wrong and it was wrong many times, technically, Monero is just better, more privacy, more censorship resistant, more ASIC resistant, transactions are far less expensive etc etc but the price is a different thing. The market is far more about psychology, if you believe Bitcoin is better is better, you will take it, even if you where wrong. The positive price evolution of Bitcoin doesn’t imply Bitcoin is going better or more adopted, in real life, Monero is taking the place, it already done in Darknet, it will probably be on the clearnet by 5-10 years from now. When it will happen, price will move because of supply shortage, I don’t care about the price btw
Wall Street is a free market? BlackRock, Vanguard, State Street and friends? First I've heard 🤔
They are also participants in the Free Market Anon
Wall Street is notorious for being bedfellows with federal regulators, politicians, and government in general. It's kind of naive and simple to think BlackRock is just letting the free market do it's thing without artificial influence from government (monopoly on violence) for their advantage and to our detriment.