It is not true that Bitcoin is "economically centralized"; that is not even a real term. Anyone can buy BTC right now and use; it is irrelevant that some people have more Bitcoin than others; that's like saying the internet is "unfair" because Google has large data centers.
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Replying to @Beautyon_ @ildella and
Be wary of men from California who are against the idea of being wealthy. They don't mind at all that the Federal Reserve has control over the supply and form of money, which has destroyed the value of the dollar and hurt the poor. Common misconceptions about BTC/money are rife.
1 reply 3 retweets 20 likes -
Replying to @Beautyon_ @ildella and
I am far from against the idea of being wealthy. I've just seen technology hype cycles go through too many promises of decentralisation that turned out to be pipe dreams. See "The law of conservation attractive profits."
3 replies 0 retweets 2 likes -
Replying to @timoreilly @Beautyon_ and
It's also worth noting that there is no correlation between ownership and addresses. Anyone that is wealthy in bitcoin, but has a good wallet and sense of privacy, probably has hundreds or thousands of addresses under his control.
1 reply 0 retweets 15 likes -
Replying to @JWWeatherman_ @WeathermanIam and
And how does this relate to my argument about the cost of mining leading to economic centralization? Anyone can still create a website, but the web is effectively centralized by data. Bitcoin followed a similar path even faster than the web, but centralized by mining costs.
2 replies 1 retweet 3 likes -
Replying to @timoreilly @WeathermanIam and
You are confusing, among other things, mining hash power with control of addresses, they are two very different things.
3 replies 0 retweets 45 likes -
Replying to @NickSzabo4 @timoreilly and
Oh man if there’s anyone who’s primed to go full Bitcoin nerd, it’s
@timoreilly - please (someone in geoproximity to him who knows him) take him for beers...1 reply 0 retweets 1 like -
Replying to @BrianLockhart @NickSzabo4 and
I’d really be happy to be educated about this. Or at least to hear the arguments about why I’m wrong. But I’ve talked to a surprising number of cryptocurrency nerds who seem to agree with me.
3 replies 1 retweet 4 likes -
Replying to @timoreilly @NickSzabo4 and
@NickSzabo4 here’s your chance to FINALLY make a contribution to the Bitcoin community. Tim, meet Nick. Nick, meet Tim. Pretty sure you’re both Bay Area-ish? I’ll foot the bill for a pitcher of beer - make this convo happen please.2 replies 0 retweets 4 likes -
Replying to @BrianLockhart @timoreilly and
Sure, but my tutoring rates are rather steep.
2 replies 0 retweets 10 likes
i suggest adding @el33th4xor to the discussions while you’re at it. it would be great to have it on video so the rest of us can witness your varying perspectives 

#Bitcoin #StoreOfDrama
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