This Bear Market Has Shown That Decentralization Will Never Be Possible

there is this thing called human greed. most of the successful crypto companies (such as FTX or Binance) always have centralized executives on the top, and they have much more influence than everybody else and can destroy the entire industry with some rogue decisions if they want to.

Even the likes of Ethereum can be described as “centralized influence” because if Vitalik leaves and say “fk crypto” i can assure you everybody will suddenly dump ETH. and even the validator nodes are not that decentralized, they are mostly managed in AWS centralized datacenters.

This bear market has shown that once-promising altcoin projects are always centralized. just look at Terra or Harmony One, the leaders can just decide whatever they want, and your useless governance token still wont be able to vote against what they want.

So, who is in crypto for the tech again?

View Source

41 thoughts on “This Bear Market Has Shown That Decentralization Will Never Be Possible”

  1. Decentralization, tech, fuck the banks, …. Let’s be real here, 95% of people in crypto only cares about making more (hopefully fast) fiat.

  2. *”I read someone a day or two ago saying “if everyone only uses one crypto, that’s the epitome of centralization.”*

    *This is very wrong, and it indicates that some people don’t really have any idea about what decentralization even is and why it’s a good thing.*

    *Centralization IS NOT a lot of people choosing to do something. Centralization is when ONE person or group can choose what OTHER people do. The greater the ratio of people subjected to the decisions is to decision-makers, the greater the amount of centralization. Decentralization is when every person decides for themselves what to do.*


    *Bitcoin and good cryptocurrencies are decentralized. No matter how much Bitcoin someone has, he or she can’t PRINT Bitcoin or force other people to do things with it. He or she can only exchange his Bitcoin with others who choose to trade.*

    *If at some point someone could in fact control the verification of transactions, then it would become centralized and fall apart, as long as that can’t happen, it is decentralized and decentralization is very, very good.*

    *So let’s be clear on this in the future. It’s important to what we’re all doing.”*

  3. Bitcoin didn’t need marketing or exchanges to succeed. Don’t confuse altcoins that are just projects under the name “Crypto” with BTC itself.

  4. “because if vitalik leaves and say “fk crypto” I can assure you everybody will dump ETH.

    Lmfao you sound so delusional, you know how many crypto’s and dapps are built on Ethereum’s network. Long line of new tech built directly off its blockchain. Nobody will be dumping it. Vitalik can say whatever he wants, people will move on. Ethereum is likely to be around a long while .

  5. tldr: eth is adequately decentralized but the current chain runs behind the figurehead that is Vitalik and the Ethereum foundation. And dex’s > cex’s.

    I’d argue that though ETH does have Vitalik as it’s figurehead and is primarily driven by the Ethereum foundation, it is currently truly decentralized with miners and shows the most promise by implementing a cap of 32 eth to be staked per validator come the merge.

    The whales staking large amounts would be no different than those same whales running an inordinate amounts or miners to turn their profit. It’s certainly not a perfect correlation, but in the case of validators, we’re now looking at the possibility of those who previously couldn’t afford an ASIC or a mining rig the ability to stake their ETH to contribute to further decentralization.

    As for the Ethereum foundation, that’s certainly a centralized point. But the beauty of the chain is that at the end of the day, it is our choice to follow them or not. Take ETC as an example. It’s not a popular chain, but some miners made a choice at one point and carried on the chain unaltered. There’s nothing to stop validators from altering the code to remove the difficulty bomb and carry on the chain, sans Ethereum foundation, and keep mining it in fact, there’s talk of doing such a thing.

    As for the centralized exchanges, they are absolutely bad for the space, in my personal opinion. But they are also not necessary. No blockchain requires an exchange to work. They just make things easier. And for chains that can run smart contracts, dex’s are very viable options that are not susceptible to the same shortcomings of centralized exchanges.

    Ethereum may have some perceived flaws, but at the very least in it’s current incarnation, it’s definitely a decentralized network.

  6. Cardano is getting more decentralized everyday, and other projects like AVAX and DOT are improving

    I think this bear market is making the projects work more and talk less, back to the fundamentals

  7. Unfortunately the average person does not care about centralization, if they did these mega platforms like Facebook would not exist to start with. So investment wise when people just jump in for potential gains it’s not an important thing they look at

  8. The amount of people speaking positively about Bitcoin on this post shows that bear markets flush out the moonbois.

  9. Never be possible 🤔🤔🤔 it won’t happen anytime soon but defi platforms have show us the way to work without a central authority….so idk where you coming from? Obviously didn’t notice the Celsius fiasco and how people got burned on a centralize platform….meanwhile my crypto on aave still there and full transparency

  10. How many of us actually care about decentralization? When people are buying into projects like SOL, SHIB, and XRP it makes me really wonder.

  11. 10% of the nodes are in AWS. This claim was debunked several weeks ago.

    Edit: 8% of the nodes are in the us-east-2 region, which was claimed to be one data center — but it is not. Individuals running mining nodes in AWS is no different than if they ran it themselves. Centralized to one cloud provider is not the same thing as centralized cryptocurrency.

  12. Companies want centralized control because it gives them power.

    Bitcoin puts the power of control as centralized as you want it.

    Food for thought.

  13. I just can’t see crypto getting away from some kind of centralisation in the future. There’s no way banks and governments want mere mortals like ourselves getting rich without their say so 🙄

  14. Don’t get your point.
    BTC works just fine. Alts like monero doing their think.

    If you invest in shit like Terra or SOL or 99% of the rest don’t expect something good and if you got lucky.

  15. ‘If Vitalik leaves’, ‘I can assure you’. Pretty much trust me bro I know what I’m talking post with no essence.

  16. This bear market has just shown that most people don’t understand the tech very well and can be easily manipulated. Most projects were clearly lacking transparency and underlying centralized tech was clearly visible after a little research.

    Or they were actually transparent but most noobs would not like them because they would lack some fancy high tps numbers, low fees etc.

    Again, the risk wasn’t not to know something and then chose fundamentally safe bet like BTC, most people got destroyed because they became to arrogant with their illusion of knowledge about crypto.

    And know some noobs claim decentralization isn’t possible because of their lousy choices in the past? LMAO.

  17. Decentralisation is an ideal but I agree it can never be fully realised. There will always be some people who have some degree of authority over a “decentralised” system. Even Bitcoin needs developers. Take away the developers you just have a dying network.

    So yes, true decentralisation is a myth but a noble goal nonetheless.

  18. This is why products like HEX get gatekept by mainstream crypto media, because they allow people to get yield without giving up their keys. We just need better fiat on/off ramps. Defi works fine.

  19. Any coin with a leader is inherently vulnerable add to that move fast and break things doesn’t work when you’re talking about money.

    If crypto succeeds its going to be Bitcoin and whatever is built on top of it. The whole point of crypto is removing the need to trust an individual.


Leave a Comment