Translate

Friday 18 March 2022

Decentralised Enough?

"How decentralised does money need to be?" is the question that many proponents of altcoins will pose rhetorically when discussing the matter of bitcoin vs altcoins. They will say that things just need to be censorship resistant and resilient. Some centralisation can be ok if it allows us to still get a generally acceptable levels of  the things that come from this. I don't think so, it seems very vague and acceptable levels difficult to measure.

The answer for me is that money needs to be "MORE decentralised". That is that it is getting more decentralised over time. Blockchains are designed to last for a long time. This means that if your coin is not trending towards decentralisation then it will eventually become centralised. In order to prevent the system falling into this hole we need to keep moving away from it> Even if it is just a slight move it makes a binary difference over a long time. 

On top of that I think the money system is one of our most important systems. You could say money is the main artificial base layer of human coordination. I think at an absolute level it should be more decentralised as compared to basically every other system.


.

No comments:

Post a Comment