Transaction

j"1LAnZuoQdcKCkpDBKQMCgziGMoPC4VQUckM¢<div class="post"><div class="quoteheader"><a href="https://bitcointalk.org/index.php?topic=1332.msg14838#msg14838">Quote from: chickenado on October 01, 2010, 11:31:46 AM</a></div><div class="quote">The strength of this project was meant to be its distributedness.<br/><br/>But now, it seems that an increasingly small and exclusive elite has taken charge of coin/block generation. It's dominated by specialists who have access to wholesale means of production and secret, proprietary GPU code.<br/><br/>The average user no longer has a fighting chance and has given up generating blocks altogether.<br/><br/>What does this remind me of? That's right, bitcoin is becoming like the physical money economy, where a small number of central banks now guarantee the trustworthiness of paper money.<br/></div><br/>You seem to have missed the point.&nbsp; The distributed nature of Bitcoin is not compromised by the consentration of block generation.&nbsp; Because, unlike fiat currencies and central banking, no one group or person has monopoly control of the currency, and no one can manipulate it as such.&nbsp; Not even the GPU oligarchs.&nbsp; Also, they are competing among themselves.&nbsp; If one of them starts thinking that he has a majority of the block generation locked up, and decides he is going to try and fork-steal, the rest are going to notice the changes and they all have a strong incentive to overtake the market leader.</div> text/html