Cryptocurrency & Lessons Learned

[lethal protocol]

So what have we learned up until now?  Here are my thoughts:

1.  Centralization Vs Decentralization:

Does Centralization or Decentralization of POW mining really matter?  There are 2 obvious arguments but I would like to introduce a third.  The first argument basically says that we must have decentralized POW mining or else we will end up with something like BitmainCash (oops, I mean bitcoincash).  Probably enough said for that point. 

The second argument is that decentralization may not even matter in the short term or in the long term for POW mining.  There are various examples of coins that have had ASIC/Centralized mining introduced and for the most part, life goes on.  So beyond these first 2 arguments stating 1) Decentralized POW mining is the only way and 2) Decentralized POS mining is just a part of life...

The third argument that I would propose is that Decentralized POW mining is an inevitable goal that will be continuously strived for just as we aim to make a perfect circle or just as we aim to exceed faster than light travel.  Since decentralization matters on such an epic scale, mining algorithms matter and developers flexibility matters.  Therefore and as continues to be demonstrated with various new POW algorithms produced all the time: ANY POW COIN DEVELOPER SEEKING DECENTRALIZATION MUST REMAIN OPEN AND FLEXIBLE TO FORKING THEIR COINS TO NEW ALGORITHMS.

2. POW/POS... XRP?Huh Blockchain Blockchain Blockchain:

So why not just get rid of POW altogether and shift to POS since it's so complicated?  Decentralization, that's why.  But really, that's besides the point.  Sure, ethereum is shifting to POS.  Various successful coins are POS.  Various successful coins are POW.  None of that really matters.  All that matters is that the implementation of blockchain is used successfully and that people agree to that.  Who would have ever thought that a 100% pre-mine coin could ever succeed?  The people at XRP, that's who. 

The point here:  Blockchain use case and success is what matters despite personal preferences.  Pre-mine doesn't really matter even if it can sometimes be a predictor of fraud.