The future of Bitcoin isn't bitcoin

[adamstgbit]

I Imagine a future where individual states, universities, governments, corporations, banks are the ones running nodes. China and USA may not agree on a lot of thing, but they will be made to participate in nakamoto consensus! I simply do not care if there individual citizens can't run a full node without a 10,000$ investment.
Welcome to the future of money, its a BIG DEAL.

clearly bitcoin is not headed in this direction.... my only conclusion is that it will become irrelevant as new Bitcoins come along and fulfill this future blockchain infrastructure design.

understanding the distinction between controlled by 1 corporations Vs decentralized amongst all corporations, is key! the idea of bitcoin running on home computers while its only use is as a settlement layer only large corporations can afford to transact on is either very foolish or stupid. Lets not forget large corporations and banks have already said PASS on the bitcoin bandwagon, but they are on the Bitcoin bandwagon. weather you like it or not the idea of a decentralized "datacentercoin" as some like to call it, is coming. IMO, bitcoin will NOT be able to compete if it hodls desperately to maximal decentralization idealistic roadmap.

this is a bit of a shock and awe post.
penny for your thoughts?

 

[adamstgbit]

We already have mainstream/datacenter coin. It's called paypal.

i want a crypto decentralized amongst gov/company/bank/universities/etc.

not a centralized system controlled by 1 company
paypal doesn't allow me to generate my own account to which they dont have and never will have the private keys too.
paypal doesn't have to have 1000 other companies and participants agree with it when it wants to make a change to its protocol.


you see the dif?

I am an extremist when it comes to "blocksize"
I see the model for global governance emerge from this technology.
the decentralization of world domination!
muahahahahha!

becoming a peer on this network is going to be anything but Cheap!

on second thought it might be Cheap like dirt relatively speaking... 1/10[sup]th[/sup]million sounds cheap like dirt for what i'm suggesting wouldn't you say?

 

[cypherdoc]

Look. I keep saying this.

If Bitcoin ever gets that big and you and i have continued to hodl, it will be as trivial as it is today for you and i to continue to run a full node. Even if it costs $10k I certainly plan to do so.

 

[AdrianX]

Hey totally agree there are many dynamic at play.

What's lacking in this debate is a definition for decentralized. We all agree Bitcoin should be decentralized but we're failing horribly. Core is advocating for centralized controle of the software that runners on the decentralized nodes.

So long as there are competing interest who are dependent on a consistent blockchain Bitcoin will remain decentralized.

I'd even consider that someone who has the ability and enjoys building bigger and faster computers will be empowered to do so continually as a full-time hobby with just a small investment of 10BTC as the network grows in value and scale.

 

[adamstgbit]

So long as there are competing interest who are dependent on a consistent blockchain Bitcoin will remain decentralized.

nice!

 

[cbeast]

Satoshi Nakamoto wrote in the original white paper that mining would become the business of large datacenters. They can still be decentralized as long as they remain competitive and we don't end up with a single unified global government.