RE: Letter To The Committee Of Financial Services About Libra
Dear @blake.letras
I found it also interesting to why are you comparing Libra with Ethereum instead of Bitcon. excellent explanation.
However I believe most people will keep comparing Libra to Bitcoin and I will probably keep doing it as well. For regular people its easier to understand the differences between one and the other (especially if they never heard about eth).
The biggest difference I noticed is the fact that Libra is centralized and for that reason very vulnerable to subpoenas. With BTC it's not a problem. Noone is there to take a blame / take a hit.
Isn't ETH also quite centralized ?
ps.
I thought that perhaps I could share with you my latest publication and ask about your own opinion on discussed subject:
"DID OUR WORLD LEADERS JUST PUSH GLOBAL RECESSION AWAY from our doorsteps?"
https://www.steemit.com/economy/@crypto.piotr/did-our-world-leaders-just-push-global-recession-away-from-our-doorsteps
I would appreciate it greately.
Yours
Piotr
Thank you for commenting and sharing the post I will check it out. :)
As for:
I believe people are saying that without merit. You have likely been misinformed by many people that possibly don't like Ethereum because they believe Ethereum is a threat to Bitcoin or something.
If Ethereum was centralized we would not have Ethereum Classic. Ethereum is opensource software, which means that if Ethereum was centralized some programmer would be able to explain what technical aspect is centralized. Usually, when people claim Ethereum is centralized they speak vaguely, which I believe is because they have no basis in fact.
That said, one of the reasons ETH 2.0 is taking so long to make is because the Ethereum project has a strong focus on being decentralized. They want to have a very large amount of validators, not just a small number like most POS blockchains right now. When ETH 2.0 comes out, in theory, it should be many times more decentralized than Bitcoin or any blockchain right now. This is because they plan to have thousands of validators 113,664 validators to be exact. That is much more decentralized and secure than Bitcoin is today, because Bitcoin mining competition leads to pools and Bitcoin can really only have 50 total pools. So while Bitcoin will eventually max out at 50 pools, ETH 2.0 will have 113,664 validators across 1024 shards. That's also a lot more decentralized than 21 witnesses.
Wow. Amazing comment @blake.letras
Thank you for taking the time to reply to me. i'm fully aware how busy you are. Appreciate it a lot.
Seriously YOU ROCK!
Yours
Piotr