BItcoin Not Fully Decentralized?
Satoshi's invention of Bitcoin as a revolutionary form of money that would give people control over their funds that was created back in 2009 is a full success. While the cryptocurrency's programming is partially centralized, it has a wide distribution of nodes all across the world. Bitcoin is decentralized where anyone can set up a node to support the Blockchain.
So far, many people believe that Bitcoin is truly decentralized as "no one" controls it. But the harsh reality is that every single cryptocurrency and Blockchain network depends on the Internet to survive. It's no secret that in today's world, big companies like Google, Facebook, and even Amazon control the Internet. On the other hand, ISPs (Internet Service Providers) have a final say over what people can view or host using the Internet. This means that Internet is centralized, greatly defeating the purpose of Bitcoin and other cryptocurrencies of eliminating the middleman.
For Bitcoin to be truly decentralized, the Internet needs to be decentralized first. Once that's done, you could expect to achieve financial freedom that's out of the scope of oppressive governments, central banks, and large corporations alike. Until then, Bitcoin and all other cryptocurrencies will be subject to the risks of the Internet's centralization for years to come.
Now let’s think of a few things on this. Sure internet is centralized. However there are a few companies out there working on to create a fully decentralized internet. This will take some time and a few years we must wait, but it can happen for sure.
It's not the "INTERNET" you have to fear. If you have a router and few meters of FTP cable you can make a local network and presto.... you have INTERNET. Not World Wide Web... mostly 3 house wide web ... but still the same concept.
I believe Satoshi's legacy is the blockchain and bitcoin was a practical example of how revolutionary it actually is.
A decentralized internet would be great. Like or not, the Internet is centralized when a government can cut your access or limit it. It is centralized when you're paying your ISP for the ability to connect to the web.
It is centralized because somebody owns the cables. Those fiberoptics did not produce and lay themselves. Your local network at work is also centralized because someone owns the computers and someone pays the bills. in the internet's current form, yes, the centralized infrastructure and limited number of government-controlled ISPs is problematic.
The problem is that how can we do it successfully and with disruption? People these days are already accustomed to giants like Google, Facebook and similar names. Getting rid of them can be impossible unless we are proposing a big revolution that can tear down these "walls" but we know it is going to happen. The problem is that these giants became successful, popular and now controlling because people allowed them to be. Facebook became the most pervasive socmed because people are patronizing it and despite many problems and setbacks that besieged the platform we see no exodus from the site. However, I don't see that much connection between decentralized cryptocurrency and centralized internet. Just because we have many big players controlling the business brought on by the internet does not mean that they can really affect cryptocurrency in major ways.
It is still possible to make your crypto experience decentralized.
Sure ISPs can control what browsers you use and so on, still have you not heard of proxy servers?
Such as to provide your own routes to your router?
Changing IP Address by VPN will make your Internet "decentralized" where the ISP can no longer control which type of connections you are having or from where they come from.
There are alot of ways for bypassing ISP blocks / protections against Crypto network.
Do keep in mind that the Internet is live network, no one owns the internet. With that regard, you can have access to the internet if you want to, you just need to trust and pay ISP but they don't really own a portion of the internet. Some people have just funded the transatlantic cables beneath the seabed but if we are to ask the world who owns it, no one. In general companies can control certain content and websites. As i mentioned before a company like google can control to what is shown on that browser, same with a certain social media platform. If you don’t like their methods, then move on to another option which there are.
In general people are putting way to much emphasis on Bitcoin itself instead of the Blockchain. Satoshi Nakamoto made the Bitcoin and Blockchain source code open source. So most likely Satoshi knew Bitcoin was flawed, hence making the project public in hope's of people contributing to where he left off. As we speak, other projects are being developed that blow Bitcoin and it's current blockchain out of the water. I don't think Bitcoin was designed to be permanent but instead it was just a proof of concept demonstrating the use of Blockchain and what could potentially be a new form of digital currency.
Now it is your turn. Let’s hear your thoughts on this. Is Bitcoin fully decentralized? Or should we looking and creating new projects that could achieve this? Thanks again
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Bitcoin is a cryptocurrency, a form of electronic cash. It is a decentralized digital currency without a central bank or single administrator that can be sent from user-to-user on the peer-to-peer bitcoin network without the need for intermediaries.