The Market will always have room for Cryptocurrencies that are more Centralized than Bitcoin
It’s interesting that you mention this, because I think it helps to prove my point that a semi-centralized blockchain can work. Even though Ethereum is not as big as Bitcoin, its current market cap is about one fourth the size of Bitcoin… so I think that’s proof that some centralization (like the centralization that I proposed that Facebook initially take for their coin) can be accepted by the market. A 43 billion dollar market cap for Ethereum is hard to argue with. That cap will probably go down at some point, but it could also go up.
I think the market of cryptocurrencies, which currently consists of over one thousand varieties of them, will always consist of variants that include more centralization as well as ones that try for the most pure decentralization. The beauty of a free market is that consumers get to enjoy tremendous variety, and while one variety may generally be favored and given a premium by the market, it doesn’t mean that other varieties will totally die out. Those other varieties may serve a particular purpose or be especially useful for a specific use case.
The Market will always have room for Cryptocurrencies that are more Centralized than Bitcoin was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.