• @[email protected]
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    511 months ago

    Bitcoin doesn’t even do the job of decentralization very well either. The blockchain is controlled by the wealthy miners with warehouses full of asic miners. Monero is a better cryptocurrency for that reason.

    • @Buffaloaf
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      311 months ago

      I thought Monero was just for buying drugs

    • @[email protected]
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      111 months ago

      Miners do not control the blockchain though.They just offer to verify transactions and maintain the blockchain. They have no control over the price, the algorithm, the supply etc. not saying Monero is not a good choice too.

      • @adrian783
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        011 months ago

        still, 90% of the Bitcoin is concentrated in the top 1%

        • @[email protected]
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          011 months ago

          That does not make it bad though. Bitcoin is not able to solve all monetary issues nor was it designed to. No monetary system right now solves that issue. This is like saying an EV is bad as it still can speed and kill people without recognizing all the other benefits over gas cars.

      • @[email protected]
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        011 months ago

        They just offer to verify transactions and maintain the blockchain.

        Unfortunately that’s the issue. Only a small amount of miners are the ones making a significant dent in mining. Consumer hardware cannot compete with the corporations with large asic mining warehouses, especially ones run by governments and large corporations. This leads to further centralization due to the high barrier of entry and makes the blockchain susceptible to manipulation and things like a 51 percent attack.