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Old 08-08-2023, 09:54 AM  
AmateurFlix
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Join Date: Jul 2004
Posts: 7,754
Quote:
Originally Posted by $5 submissions View Post
Jscott, you're right. BTC is always going to exist due to its decentralized nature.

ETH isn't decentralized at all.
you sure about that?

https://www.techopedia.com/bitcoin-m...a%3A%209.55%25
bitcoin hash power:
United States: 35.4%
Kazakhstan: 18.1%
Russia: 11.23%
Canada: 9.55%
Top 4 nations control 74.28% of the hashrate

https://www.ethernodes.org/countries
ETH nodes:
US: 43.19%
Germany: 13.14%
Singapore: 4.67%
United Kingdom: 4.12%
Top 4 nations control 65.12% of mining power

BTC validation is more centralized than ETH.

As BTC mining continues becoming less and less profitable over time - an inevitability, due to the "halvening" and increased difficulty over time, the barrier to entry for miners should be expected to continue to rise, requiring ever more capital expenditures for new mining participants, encouraging ever greater centralization.

ETH nodes have the same problem, it requires 32 ETH (~$59k USD) to run a single validator, which is pretty steep for most people. That cost will rise (and fall) with the price of ETH, of course. Still, it's significantly cheaper than the initial capital required to make BTC mining worthwhile, and if a jurisdiction should fall prey to a hostile legislative environment (as happened with China and BTC mining) it is far easier to move software nodes to a more friendly jurisdiction than to ship physical bitcoin miners and the massive support infrastructure they require.
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