The "muh centralization" argument

[Anonymous No.53774337]

Will be irrelevant even as soon as the next few years.

As we all know, the elites (aka the whales) have an overwhelming amount of crypto to allow them to manipulate the markets at will and decide which narratives will drive the price up and down. Furthermore, we're seeing that the number of nodes on any project doesn't matter anymore, since the majority of those nodes can belong to only a select few elite/ultrarich entities, aka centralization.

Your crypto WILL be centralized, you WILL own nothing, and you WILL be happy, whether you like it or not.

As soon as the financial institutions got their extremely filthy nasty hands on crypto, it's been game over for us since. The elites will never allow "decentralization" to be a thing, as they'll always find ways to centralize and hold power over us anyways.

[Anonymous No.53774401]

Crypto decentralization is laughable. It's just a meme at this point.

[Anonymous No.53774452]

>>53774337
>>53774401
cope, seethe, etc. you will run a light node and you WILL like it

[Anonymous No.53775037]

>Everything starts out heavily decentralized
>Mining is done by the average person that uses the currency
>Nodes are hosted by individual users
>Coin is kept in wallets held by the end user and usually not left on an exchange
>Market price reflects the perceived value of a coin
>Most coins on the market at the very least pretend to have some inherent value through being useful for something
>Move forward to today
>Mining is done by a small group of people that can actually afford to get the latest ASIC models because it's stupidly easy to print SHA256 hashing logic to a single chip you can mass produce and staple to a PCB, provided you're a chip manufacturer
>Nodes are primarily run by exchanges, with the average person refusing to host their own node outside of some more technically savvy individuals
>Market value is whatever the fattest whale decides it is today
>Most coins are called something like "shibbamoonelondogfucker6969" and exist as literal ponzi schemes
>The general response to serious problems facing major cryptos is to either pretend it's not a problem or staple another "layer" on top
>Any time you bring any of this up you either hear "REEEEEEEEEEE FUD!", "Well akshually that's a GOOD thing!" or "Have fun staying poor!"
>It's gotten to the point where the kikes running exchanges are literally shilling "centralized-decentralized finance" like it's not the most retarded combination of words ever devised by someone
I hate all of you that caused this, I want you to know that.
It was always about taking control away form banks and giving it to the average person, not about making a few people stupidly rich.
I hope we see a dot com style crash that purges the worthless garbage out of the industry.

[Anonymous No.53775184]

>>53775037
Yeah it's frustrating, it just proves that more money = more power, period.

[Anonymous No.53775259]

>>53775037
>I hope we see a dot com style crash that purges the worthless garbage out of the industry.
Me too but I don't know how this would come about if 3arrows/sbf couldn't cause it

[Anonymous No.53775785]

>>53774337
>Your crypto WILL be centralized,
It already is. Bitcoin has a Nakomoto Coefficient of 2 and as long as pretty much every pool in every coin makes the blocks instead of the miners that's always thr logical endgame

[Anonymous No.53776161]

>>53775785

mining pools are akin to labor unions where individuals can join or leave at their leisure, just because a significant portion of miners are distributed into several large pools doesn’t necessarily mean they will remain bound to their pools if it threatens decentralization if the network.

>>53775037
based

[Anonymous No.53776215]

>>53774337

Fundamentally, PoS does not solve the timestamp problem, PoW does. Tokens that use PoS are worthless scams.

[Anonymous No.53776226]

There’s never been anything special about Bitcoin that made it somehow different and unique this time. At any point in history we could’ve written laws to force banks to hold the gold on hand that they have on deposit, but we never did that because it’s a dumb idea and doesn’t give us control of a currencies inflation, and in fact makes the sporadic inflation and deflation of a currency medium worse.

Centralized exchanges custodying client crypto and practicing fractional reserve Bitcoin banking all the way, fuck you Defi nerds