The basic idea is that Satoshi Nakamoto held at the legendary White Paper for Bitcoin, had the structure of decentralization. A look at the last few days shows that The spirit of Satoshi’s dancing with the ghosts of decentralization. Bitcoin, Binance and Venezuela – the situation on Wednesday.
While the regulation of fire authorities from all corners of the world with new aspirations, hardly passes a day without announcements of new partnerships in the often-quoted emerging Blockchain-industry. The SEC breaks the bureaucrats, heads of dozens of applications to Bitcoin ETF. Meanwhile, Ripple dogged by the (own) XRP is trying to be Token away. On the streets of Venezuela, the financial Chaos, while the highly controversial Petro to save the industry. And Binance paid in the meantime, 90 per cent of their employees with a private Token. In between, the spirit of Satoshi Nakamoto dancing with the ghosts of decentralization.
Because it wasn’t meant to be. From the rubble of the banking crisis, an ominous White Paper was released in 2009. It spoke of a electronic Peer-to-Peer payment system. Without banks, without a state. Without a crypto guru and Oracle, solely based on the trust in the technology (or the distrust of the Rest).
The basic idea behind a decentralized organization, therefore, was the form. In a sense, self-regulated and independent. Then, millions of pizzas, Vitalik Buterins Ethereum and the brave new world of ICOs came for Laszlo’s. Because “every beginning dwells a magic force”. And from this wanted and all want to have something. Here’s a bit of White Paper, there is a small Use Case, three or four investors and the money machine. Or?
What comes out of it, usually has little to do with decentralization. Whether it is the block producer in the case of EOS, the Super Representatives or the Full Nodes in Bitcoin Cash – the centrality of the projects, the ghosts of decentralization.
The Spirit Of Satoshi’s
And the spirit of Satoshi’s? Could not log on to Satoshi’s Bitcoin in Binance or one of the many other crypto exchanges. He is just too decentralized. In terms of the Listing rules on Binance a Twitter User realized recently that Bitcoin had no Chance to be on the Chinese stock exchange listed:
It’s interesting to see where we’re coming from. If you have a decentralized cryptocurrency with a founder that disappeared you can never get listed on exchanges.
This isn’t just for Binance, this is pretty much for any exchange now. pic.twitter.com/qm8Kmx39LR
— Whale-Panda (@Whale Panda) July 26, 2018
To do this, the alleged CEO of Bitcoin would have to fill out first a form. Finally, the exchange will need a contact person, a “decision maker”. To move in a crypto-currency, which is delegated the trust to the technology, and except for the decisions on Individual will, to put it mildly, difficult.
As a further evidence of the major Problem of decentralisation: it doesn’t seem to work without the new Central points. At least as long as people are in the game. It is these ghosts of decentralisation, which will compete with the spirit of Satoshi’s.
However, all regulatory, governmental and centralization to try, in Spite of the ghosts will not be able to chase away the spirit, at least, to hope. Because Bitcoin is a matter of trust.
And what price is Bitcoin?
And the price of Bitcoin? The moves since last week, with nearly 5 percent in the Minus down a bit and is currently around $ 6,500. This is, and remains, Bitcoin – whether it is ghosts or not – with a total market capitalization of close to 111 billion US dollars in the crypto currency number 1.