this post was submitted on 20 Aug 2023
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No, it's centered around large nodes, that's the point they're making.
Over 50% of the network's capacity in the hands of 5 entities?
https://www.reddit.com/r/btc/comments/vo86ki/over_half_of_all_lightning_network_capacity_is/
Shit's decentralized as fuck yo!
Heck, Bitcoin itself had the majority of its hashrate coming from a dictatorship where the state needs to have a representative in all major companies... One move and the Chinese government had control over the network.
#decentralization
Did you ignore the second part of what I said? ๐ค
Ok, so you ignored what I said.
China could have seized all mining equipment just by deciding to nationalize the industry instead of banning it, boom, 51%+ of the hashrate in the hands of the Chinese government. What were Bitcoin maximalists saying at the time? Fuck dick, as long as the price goes up, who cares about the tech behind it?
"It can't happen anymore"
Except they Chinese hashrate went back up even though mining is still illegal... Which begs the question... Did the miners really move out of China or did they simply hide the fact that they're in China?
Not what I said ๐คท
I never said law enforcement can't find them.
This is like saying Lemmy is centralized because lemmy.world exists. This senseless rambling may work elsewhere, but Lemmy has too many computer literate users for you to gain any traction here.
Eh... Lemmy has too many computer literate users for Bitcoin maximalists and crypto to have taken a hold on the place, funny that!
Alright, I can see now that you are just yelling out things you heard other people say without any idea what they mean. FYI, a bitcoin maximalist is someone who things there is no reason for any other crypto. That is absolutely not what this conversation is about. I don't think bitcoin is the only useful coin, and I never said anything remotely similar to this. I'm sorry if you lost money gambling or something, but honestly I'm not surprised, clearly you are someone you gets overconfident with small amounts of information. That is possibly what you have to blame for whatever happened to you.
โฅ๏ธ