Lots to discuss here, love the comments lads, pity i got to work, I will be back to discuss these points and questions!
But briefly, Siac in answer to your question about centralisation in other cryptocurrencies, ryan has pretty much answered that beautifully. The 2016 situation with ethereum etc. If you can talk about a group of influencers that small, then you've already lost.
And Bitcoin is "old tech" compared to these other blockchains in the same way that the internet protocol is old tech. Its old tech that works and can be trusted, it has proven itself over time and now scale.
Its the platform, and now its about what you build on top, same as the internet. The lightning network us a great example.
But briefly, Siac in answer to your question about centralisation in other cryptocurrencies, ryan has pretty much answered that beautifully. The 2016 situation with ethereum etc. If you can talk about a group of influencers that small, then you've already lost.
And Bitcoin is "old tech" compared to these other blockchains in the same way that the internet protocol is old tech. Its old tech that works and can be trusted, it has proven itself over time and now scale.
Its the platform, and now its about what you build on top, same as the internet. The lightning network us a great example.