3-2-2018 Friday
Minor deliveries before the downpour of the rain. Apartments are always a maze to be in. One has to have a good sense of direction to navigate around these living quarters.
Doing some work gives me a little moment to think about what's happening in the market right now. With Bitcoin rising and the alts falling, decentralization enthusiasts must question the validity of some of the blockchains as being fully decentralized. In a recent article I read on decentralization, Bitcoin & Ethereum were stated as having the most distributed nodes in the entire crypto ecosystem. Their servers are distributed all around the world. Other top coins like NEO, Iota, and Ripple have a centralized authority and are not as immutable as we think they are.
" If there's a killswitch, then it's not a real blockchain."
Some of the centralized coins / alts are very risky but are definitely rewarding in the right market. It's quite a shocker to discover how vulnerable these alt coins may be in these bear markets. It makes me value Bitcoin & Ethereum all the more.
Most of these alt-coins plan to become more centralized in the future, but I feel like those who are in power want to keep power. I must admit, i'm losing more and more faith in the newer Proof of Stake coins. I am not sure of the effectiveness of inflationary policy, but it has proven to work for some governments. Proof of Stake is essentially the endless printing of money to fund specific purposes. This is still a speculative market, and proper leadership will bring Ethereum or alts to the next level.
In the end, I appreciate two coins the most. That is Bitcoin & Ethereum. Bitcoin has the most secure network while Ethereum has the most widely distributed network. The value really comes in for the technology that is most decentralized. That is what this space is about. Scaling faster has the major tradeoff of centralization. This could be implied in market movements. The more distributed nodes a coin has results in more leverage in the price.
https://news.bitcoin.com/most-cryptocurrencies-are-more-centralized-than-you-think/
It should be reinforced that the true value lies in which crypto-currency is more decentralized. The more decentralized a cryptocurrency is less vulnerable to location specific attacks.
The contending coin in the decentralized space is Monero, but it is nowhere near the distribution levels of Bitcoin or Ethereum. I'm very curious about Ethereum Classic, but I could not find sources anywhere on the supply centralization. This is a good project, but it will never scale because it does not utilize Proof of Stake. This year, the market will prove the value of Proof of Stake coins. I think it's something to watch out for! Proof of Stake is too young and vulnerable. Vitalik may have already forecasted the issues with Ethereum. In the past, he must have thought Proof of Work is the best mechanism to decentralize.
Now it is the most decentralized coin. So does Vitalik know something that we don't? Let me know!
Bitcoin looking mighty fine on tradingview charts
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@kevbot
This channel is meant to be my journal of thoughts on crypto, working, traveling, and food. Sourced with photos, videos, and blogs.
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Yes many coins are actually not very decentralized. Bitcoin is special because it has no CEO like other coins do, when the CEO does something it often affect the coin price.
I agree with your statement very much. Bitcoin has such extreme significance without a face. I support ethereum but I know there are many subjective decisions being made. This space feels as if people are trying to make entirely new digital governments!
bitcoin prices continue up and down, this will affect the price of STEEM and SBD.
only decentralize is the way to go now in this world slowly the time is changing
We're actually moving away from decentralization if these PoS coins keep centralized servers.
Glad to see Bitcoin is rising but amusing due to dip in steem and other currency. Usually when Bitcoin go bearish steem also go up. So only Bitcoin is going up is beyond my thinking. Any way all the best to steem and remaining crypto currency. Keep sharing @kevbot
btc looking good at the moment and the dominance increased 2% in the past two days :D
I think bitcoin dominance is essential because it is one of the few decentralized coins. Advanced tech availability (PoS) doesn't solve the problem of decentralization. People either come for decentralization or the money! Decentralized tech is worth holding onto while most PoS are not worth the security risk at this moment.
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