Published on September 13th, 2015 | by bitcoin0
An Argument against Centralization, or Why Bitcoin Fails as a Centralized System
This could mean that some aspects of the Bitcoin ecosystem need to specialize further, but that was always to be expected.
As the block size increases, so does the time it takes for a newfound block to transmit through the Bitcoin network.
Speaking to Bitcoin Magazine, Bitcoin Core developer and Blockstream co-founder Dr. Pieter Wuille explained why this assumption is not shared by decentralists.
But validating blocks is supposed to be a miner’s main task on the Bitcoin network…”
Moreover, decentralists warn there might be no turning back once bitcoin mining has become too centralized.
And if authorities can regulate the consensus rules, it means they can change anything that makes Bitcoin Bitcoin.