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

[–] SwingingKoala@discuss.tchncs.de 4 points 2 years ago (1 children)

Nobody is forcing you to use the big nodes. Saying lightning is centralized because of that is like saying bitcoin is centralized because exchanges hold coins.

[–] Kecessa@sh.itjust.works -2 points 2 years ago (1 children)

Did you ignore the second part of what I said? 🤔

[–] SwingingKoala@discuss.tchncs.de 3 points 2 years ago* (last edited 2 years ago) (1 children)

Yes, because it is even more wrong. One of the most mobile industries in the world that seeks cheap power concentrates where that cheap power is available. China ban bitcoin, miners moved away. Miners can always simply move somewhere else. That already happened and you don't even know it.

[–] Kecessa@sh.itjust.works 0 points 2 years ago (1 children)

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?

[–] SwingingKoala@discuss.tchncs.de 3 points 2 years ago (1 children)

could have

Yes, and the sky could fall on our heads.

It didn't happen, and it can't happen any more.

What were Bitcoin maximalists saying at the time

They always knew miners are super mobile.

[–] Kecessa@sh.itjust.works -1 points 2 years ago (1 children)

"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?

[–] SwingingKoala@discuss.tchncs.de 2 points 2 years ago (1 children)

So mining is already illegal and law enforcement can't even find them, and you think that's centralization? Hahaha

[–] Kecessa@sh.itjust.works -1 points 2 years ago (1 children)

Not what I said 🤷

[–] SwingingKoala@discuss.tchncs.de 2 points 2 years ago (1 children)

You started this whole thread with mining is centralized

[–] Kecessa@sh.itjust.works -2 points 2 years ago

I never said law enforcement can't find them.

[–] Feddyteddy@lemmy.sdf.org 2 points 2 years ago (1 children)

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.

[–] Kecessa@sh.itjust.works 1 points 2 years ago* (last edited 2 years ago) (1 children)

Eh... Lemmy has too many computer literate users for Bitcoin maximalists and crypto to have taken a hold on the place, funny that!

[–] Feddyteddy@lemmy.sdf.org 2 points 2 years ago (1 children)

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.

[–] Kecessa@sh.itjust.works 1 points 2 years ago

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