RE: Cryptocurrency Crash: America-China Trade War?
In actual, China has banned the crypto exchange but allowed P2P payment by using crypto. If China had totally banned all the crypto activities, great crypto projects like NEO, ONT, JNT and ZIL will not be able to survive until today. The Communist Party is trying to centralize the crypto as many Chinese transfers their money illegally through crypto and it is difficult for the government to track and investigate. Actually, this is what many nations nowadays are trying to do. Just that China did it earlier and stricter than other nations.
The decentralization era can't be stopped but it will face many obstacles. When there is complete freedom in a society, there will be chaos. I used to believe Steemit is a decentralized social media where the public can share their ideas as long as it does not against the law. Thanks for proving me that it can still be manipulated by someone who is holding too much power.
I don't understand code but I believe it is not easy to develop a new consensus algorithm which is truly decentralized. I hope that you can succeed. You are a man with great vision.
Correct it is very difficult if not near damn impossible to design a consensus algorithm that doesn’t centralize over time. I have a design which has a reasonable chance of remaining decentralized.
As for the power to censor, I’m working on a different model of decentralized curation which would make it impossible for any power to affect the reputation of content globally. Relativistic systems are what we need.
Good to read that you’re awake and aware. Unfortunately I think most people are still asleep and uninterested in being proactive about the truth.
Seeking for the truth is hard, but sharing the truth is even harder. Sometimes, people refuse to accept the truth just because it is against their belief. You are brave enough to withstand the pressure of being suspected.
It is nice to have such a conversation with you.