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In this video, I discuss what makes Bitcoin the most decentralized digital money ever created.
If your money has an active living founder, road map, foundation, headquarters, or does regular uncontested hard forks, it is probably not very decentralized.
By contrast, no one in the world (however wealthy or politically powerful) can capture, co-opt, or change Bitcoin.
Why do we want decentralized money? Because we don't want money that has a single point of failure. Centralized money always has a single point of failure.
We don't want governments to be able to shut down our money.
We don't want our money taken over or coopted by a small group of people.
We don't want our money changed by a small group of people.
We don't want to have to ask permission from a small group of people to get access to our money.
We don't want money whose supply can be increased by a small group of people.
If you hold crypto like Ethereum or Cardano, by contrast, you are the mercy of a small insider cabal who benefited from the large premine and presides over the development path.
Conclusion:
How do we know that Bitcoin is decentralized? It's impossible to seize control of it.
It's impossible to force through changes to the code that only you or a powerful person wants. Bitcoin consensus changes are extremely messy and contentious and rare. There's no small insider cabal that controls Bitcoin.
Bitcoin is now bigger than famous people and politicians and even nation-states.
Unlike any other cryptocurrency, Bitcoin has achieved liftoff: it's a unique digital commodity controlled by no one.
The base layer of global money should not be easy to change. It should be secure, dependable, and change as little as possible, so that people can make long-term economic decisions and not worry about the monetary foundation being altered by some small group of insiders.
Bitcoin has already won the money game. The future is already here-- it's just still unevenly distributed.
Not investment advice! Consult a financial advisor.
If your crypto has a leader, it's not very decentralized:
https://x.com/WalkerAmerica/status/1881800551761141780
If your crypto has a road map, it's not very decentralized:
https://www.gsr.io/wp-content/uploads/2022/12/Exhibit-7-898x1024.png
https://miro.medium.com/v2/resize:fit:1200/1*KrV2gtPvLoo4fDgZvKKZUw.jpeg
I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos. My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.
#Bitcoin
#crypto
#decentralized
Disclaimer
Neither Matthew Kratter's Bitcoin University, nor any of its directors, officers, shareholders, personnel, representatives, agents, or independent contractors (collectively, the “Operator Parties”) are licensed financial advisors, registered investment advisors, or registered broker-dealers. None of the Operator Parties are providing investment, financial, legal, or tax advice, and nothing in this video, on this YouTube channel, or at www.Trader.University or www.BitcoinUniversity.com (henceforth, “the Sites”) should be construed as such by you. This video, channel, and the Sites should be used as educational tools only and are not replacements for professional investment advice. Trading or investing in new and volatile assets like Bitcoin can be risky.
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