https://blog.p2pfoundation.net/is-bitcoin-a-system-designed-to-create-bitcoin-billionaires/2013/06/05 Researching, documenting and promoting peer to peer practices Wed, 05 Jun 2013 20:08:31 +0000 hourly 1 https://wordpress.org/?v=5.5.15 https://blog.p2pfoundation.net/is-bitcoin-a-system-designed-to-create-bitcoin-billionaires/2013/06/05/comment-page-1#comment-536966 Wed, 05 Jun 2013 20:08:31 +0000 http://blog.p2pfoundation.net/?p=31418#comment-536966 A P2P network with significant asymmetry in terms of power relations between the parties is not “peer to peer,” by definition. Peers have equal power, non-peers have unequal power. Bitcoin, with its significant power inequalities favoring the inventor of the scheme and of the 75 people who control the vast majority of the bitcoin units, is *not* peer-to-peer. OpenUDC is the closest thing to peer-to-peer amongst the virtual currencies.

]]> https://blog.p2pfoundation.net/is-bitcoin-a-system-designed-to-create-bitcoin-billionaires/2013/06/05/comment-page-1#comment-536946 Wed, 05 Jun 2013 17:28:51 +0000 http://blog.p2pfoundation.net/?p=31418#comment-536946 Embrace monetary deflation; apoplithorismosphobia is a horrible disorder to bear http://mises.org/journals/qjae/pdf/qjae6_4_2.pdf

]]>