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[Cryptography] Bitcoin is a disaster. (www.metzdowd.com)

submitted 4 years ago by [email protected] to c/[email protected]

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[–] [email protected] 0 points 4 years ago* (last edited 4 years ago)

It's matured to the point where centralization has emerged from decentralization. Bitcoin's original premise was P2P, one computer amongst a sea of computers. Nowadays, there are mining farms spread all around the world that outpace the hashing power of a single miner and the only way to stay competitive is to scale upwards.

edit: stumbled upon this article (2020/01/20) that might clarify my concern

https://decrypt.co/54650/china-bitcoin-market-report

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