Monarch [ARCHIVE] on Nostr: 📅 Original date posted:2015-08-31 📝 Original message:On 2015-08-31 21:24, Allen ...
📅 Original date posted:2015-08-31
📝 Original message:On 2015-08-31 21:24, Allen Piscitello wrote:
> Even so, decentralization is a means to an end - not an end-goal. It
> is essential for Bitcoin to be a useful alternative, of course.
>
The justification for the existence of Bitcoins hinges on it. What is
described in the whitepaper is a system without the trust of third
parties to process electronic payments, this can not exist without
decentralization. Absent any unforseen revelations this is a
requirement rather than a suggestion or fleeting fancy. Below a
decentralized Bitcoin you are free to make systems as centralized as
you please without affecting the parent, below a centralized Bitcoin
there is no room to make it less. We really only have one shot at a
properly bootstrapped, decentralized currency, and it would be a great
shame to mess up the one we have with hasty decision making for
unclear goals.
📝 Original message:On 2015-08-31 21:24, Allen Piscitello wrote:
> Even so, decentralization is a means to an end - not an end-goal. It
> is essential for Bitcoin to be a useful alternative, of course.
>
The justification for the existence of Bitcoins hinges on it. What is
described in the whitepaper is a system without the trust of third
parties to process electronic payments, this can not exist without
decentralization. Absent any unforseen revelations this is a
requirement rather than a suggestion or fleeting fancy. Below a
decentralized Bitcoin you are free to make systems as centralized as
you please without affecting the parent, below a centralized Bitcoin
there is no room to make it less. We really only have one shot at a
properly bootstrapped, decentralized currency, and it would be a great
shame to mess up the one we have with hasty decision making for
unclear goals.