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Comment by Rhapso | Hacker News Reader

Lightning networks to handle scaling limitations are the first step on the slow re-centralization of bitcoin. Eventually an overwhelming majority mining will be controlled by a centralized/federated oligopoly.

Be prepared to rebel and re-re-decentralize in 20 years.

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Personally I'm much more bullish on Bitcoin Cash. It's following the same path that got us to this point today, and they're not opposed to Layer 2. But they have a clear understanding that a currency is only as good as it's utility. If they can maintain that balance of decentralization, utility, and security, while picking up the pieces that Bitcoin Core dropped it's likely we'll see a flippening in the coming year.

But isn't Lightning and segwit supposed to make btc faster and cheaper?

It's a different kind of centralization, if you can call it that at all, since you don't have to trust your counterparty in a lightning network style payment channel

I think I’d probably agree with you. But Blockchain technology (the backbone of a decentralized movement) is the parent to bitcoin.

I’m speaking on Blockchain, not bitcoin.

Even viewing it more generically, the same scaling issues apply, and the same inevitable re-decentralization awaits it. Centralized systems trade robustness for efficiency. The drive to lower costs will always result in re-centralization.

The scaling problems aren't necessarily only a symptom of decentralization. Proof of stake scales much better than proof of work, for instance.

Your right, they can be at your secrity module cost.

I currently (as I understand the state of pos) see pos useful for other the other blochain ESC stuff and pow for a safe currency (BTC)

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