Identifying crypto algorithms that defeat control

in #bitcoin4 years ago

Even though initially made perfect (Bitcoin): decentralized (peer-2-peer) and private - its imperfections are being revealed only now, with the increase of block size and power being concentrated in the hands of a few... The imperfections that the Core algorithm always had in its code, but that required certain conditions to be met in order for the latter to leak through.

Becoming centralized as it developed - that is, having over 50% of mining power concentrating in one place - leaves the field free from ordinary users, unable to get their piece of the pie from mining crypto.

What options are left for an ordinary user, if one wants to transition to crypto assets, just as one once dreamt of? Almost in all (100% of Proof-of-Work and 95% of Proof-of-Stake) cases - one is left with only one option - and that is trading. Period.

Even though the revolutionary Proof-of-Stake set us free from the initial investment into expensive mining equipment - one still needs to hold quite an enormous stake of coins in order to participate in the maintenance of the blockchain and start getting somewhat decent rewards.

But let's remember what our primary goals and dreams initially were, as a community?
True decentralization? Solid transition from fiat?

Remember all of those the next time you analyse the next Altcoin (which will in 95% of the times essentially be a yet another fork of Bitcoin) and wonder why all of these 95% are nothing but speculative assets...

So what is your perfect vision of the World today? (Yes, in order to start building heaven on Earth - we must start from detaching ourselves from the capitalistic approach of monetary elites, which drain the blood of our soil; confront us against each other, calling it a "just war"; dictate which continents must not get out of poverty and hunger!)

With the discovery of Bitcoin and Blockchain - we are now facing the final frontier! And my personal vision of the perfect World (well, its actually more like a "perfect direction" at the end of which we can achieve our perfect goal) - is where we, once getting our fiat transitioned into crypto assets - settle there once and for all, without switching back and forth, buying and selling on the exchange platforms.

And to achieve that - there must be a tool, a cryptocurrency that can be mined by everybody! Every CPU/GPU, every mobile device, every grandmother, every child in poverty! A tool with a low barrier to entry, but with high return rates, unique technological parameters and a big future, so that its price appreciates as it gets older.

This high barrier of entry on 99% of all coins still leaves most of us unable to enter the field, in order to start mining.

There is no way we can transition and get decentralized in the crypto field safely and for good, if we don't become our own money emission center, our own banks, and as a result - our own bosses.

Who-controls-earth-550x550.jpg

Sort:  

Hello prizm.blockchain, welcome to Partiko, an amazing community for crypto lovers! Here, you will find cool people to connect with, and interesting articles to read!

You can also earn Partiko Points by engaging with people and bringing new people in. And you can convert them into crypto! How cool is that!

Hopefully you will have a lot of fun using Partiko! And never hesitate to reach out to me when you have questions!

Cheers,
crypto.talk
Creator of Partiko

Congratulations @prizm.blockchain! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

You made more than 10 comments. Your next target is to reach 50 comments.

You can view your badges on your Steem Board and compare to others on the Steem Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

Do not miss the last post from @steemitboard:

Valentine's day challenge - Give a badge to your beloved!
Vote for @Steemitboard as a witness to get one more award and increased upvotes!