Bitcoin: True Decentralisation

The process of decentralisation is never-ending. This is because a network either becomes more centralised or more decentralised over time. If it continues to become centralised it will inevitably end up 100% completely centralised, which means the process of de-centralisation is the opposite. Although the percentage of decentralisation diminishes it never actually stops. It just continues until the % of the increasing amount of decentralisation becomes insignificant.

Decentralisation is created through competition. If competition cannot be generated within a system then that is evidence that the system is centralised. The ‘state’ of competition is infinite, which is why as stated above it is never-ending.

Competition can only exist in a system that continually scales. If a system were ever to stop scaling it would start to centralise as the stronger players would then have to start taking market share from their competitors rather than from a newly available market source.

Decentralisation can also only exist in a system where everyone is held accountable. If not everyone is held accountable then those who are not would simply be able to do as they please and eventually take over the system as they followed the path of least resistance. This is why Satoshi Nakamoto designed Bitcoin with a chain of signatures with the intention of holding everyone to account so that no one could get away with doing anything in the system that no one else would know about.

Decentralisation is also about creating a permissionless system that anyone & everyone can build on. This is done in Bitcoin by locking down its protocol. When the protocol is locked it literally means that no one can change it & therefore permission is not required to build on it.

Lastly, for a system to be decentralised, it must scale to cater to the size of the overall market. If not everyone can use it then it is of no value to anyone because an alternative system will be found. This is why a competitive system is essential because ONLY a competitive system can scale infinitely.

The only protocol capable of achieving decentalisation is the protocol that Satoshi Nakamoto designed & described in his White Paper entitled “Bitcoin: A Peer-to-Peer Electronic Cash System”. This protocol named Bitcoin Satoshi Vision is known as Bitcoinˢᵛ & has the ticker symbol (BSV).

To understand why the Satoshi Nakamoto’s Bitcoin protocol is known as Bitcoinˢᵛ & has the ticker symbol BSV read my Medium article titled: “Bitcoin: A Tail of Blockchain BTC/BCH/BSV” linked here —

Satoshi Nakamoto had a vision. That vision was Bitcoin. Bitcoin is Satoshi’s Vision. Bitcoin is BSV.

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