What Actually Makes Bitcoin Decentralized?

I misspoke in this video. The last full Bitcoin will be mined in approximately 2104 and all coins will be issued by approximately 2138.

Would if someone baught the majority of Bitcoin would it not be centralized then?

No blockchain is 100% decentralized even Bitcoin. A big bank can buy mining pools and can take over recently Blackrock bailed out Core Scientific. Bitcoin you think its perfect? It has its own flaws, its not even capable of smart contracts. Transaction speed is too slow even Lightning is cumbersome to use. Smart contracts gives more value and use cases to smart contract platforms such as Cardano. You think Bitcoin is totally decentralized? Their devs are in charge without even an input from its ordinary users at least on Cardano we have a voting mechanism for coin holders and a governance mechanism is now being put in place. Cardano is a third generation blockchain addressing the flaws and shortcomings of both Bitcoin and Ethereum. IO Global and Hoskinson may be in charge for now because it is being actively developed but in the future the people in its built in governance will take over that is why we have Voltaire in the roadmap and Intersect. Techbologically it is superior to both Bitcoin and Cardano. You think Bitcoin proof of work is superior heck ordinary users like me cannot even participate in mining Bitcoin but only those who have money to buy expensive mining rigs. Obviously it is less democratic than Cardano it is because the devs are in control without input from ordinary coin holders. Ada is a better payment alternative as its price is more stable as its price swings are only in the cents while Bitcoin are in hundreds even thousands. Imagine buying an egg for a dollar today and tomorrow it costs 100 dollars each. You are only promoting Bitcoin because you hold Bitcoin and it is in your self interest if its price goes up and up and up. I am not against Bitcoin but dismissing other crypto projects in favor solely of Bitcoin is just being so closed-minded.

Just do an honest comparison if your going to compare to others, you can do better than btc is awesome and everything else is trash. I know btc is the best but blindly shutting down eveything with poor blanket arguments pushes people away from btc. Btc is good enough where you dont need to be dishonest about every altcoin..i mean unless we are both wrong about how good it is

So basically btc is the best becasuse anyone who holds anything esle is a dummy and will ruin the chain any way. Come on guy i know you like btc but atleast give other ideas a thorough evaluation if your going to meantion them. If you dont want to look into anything else thats fine dont shit on different ideas you can present yourself better man

Hi Matt what do you make of the Tangem wallet?

This guy Matthew isn’t just wrong he’s ignorant and delusional.

The global marketplace is decentralised in that competing parties come to market to bring prices down and services up and can do so anywhere, at anytime.

In fact, there are around 120 central banks globally, and 50,000 banks. So it’s an incredibly decentralised system, and very fractured and competitive.

The challenge with Bitcoin was to create a highly centralised system that would allow decentralised competition and a global marketplace for trading data.

The common lie that Matthew repeats is the idea that there are 10,000 nodes in Bitcoin. There are around 25 nodes on the BTC network, and they create block templates and contract our hash.

Matthew is correct in saying that ‘full nodes’ don’t have a vote… they don’t. So his whole premise about there being 10,000 nodes is bullshit. There might be 10,000 copies of the blockchain, but it’s irrelevant. They have no power, and no vote.

See the logical contradiction? ‘Full nodes’ are irrelevant. They don’t vote.

One of your most important videos

Your the man

As BTC rewards keep halving, is this leading to more centralized mining operations as large BTC mining farms are taking on the bulk of the workload?

I’m curious. When thinking about if someone could spin up X number of nodes to try and change the core code and take over the network, etc… you mentioned it wouldn’t work as long as others refuse to run it. But what consensus is required for a change to be implemented? Or am I thinking about it in the wrong way? Is there another video that covers this in more detail? Thanks!

I don't understand why PoW should be better at decentralization than PoS. You can control the blockchain with money in a PoS chain, by buying a lot of stake. Sure, but isn't that true with PoW as well? You buy a lot of machines to mine Bitcoin, and control the blockchain that way. It's just a step in the middle of using your money to buy machines, instead o just using your money directly. I know I'm wrong but I want to know why

What about a 51% attack? How does that fit in to your analysis here?

So if I had 16000 computers running bitcoin software on them to make them nodes would I take control over bitcoin?

Should we be worried about CBDC or should we be happy about it?

Won’t the Bitcoin whales just become the new oligarchs?

I just discovered this channel, pure "gold"(in the lack of a better term)

please do a Lightning video how it facilitates using Bitcoin.... Keep th grea work!

Newbie here - Would really like to understand what intrinsic value Bitcoin actually posseses, and would appreciate if someone could explain (couldn't find a clear and satisfactory answer on Google). For example, precious metals have application in jewelry, Base metals in industrial uses, other commodities for physical consumption, etc. i.e. all these fulfill an actual physical and/or emotional need of a human being, which gives them value, which would allow them to be classified as a store of value. What similar human need does Bitcoin fulfill?

I remember finding this channel during the bull run late 2020 off of a collaboration you did. I got recommended a video over the thanksgiving holiday and have watched a half dozen since. Not gonna make the mistake of not subscribing to the channel this time. Incredibly articulated high level content is what I love, so I’ll be back frequently. Thanks for the hard work.

thank you

Matt is an ALL-STAR BTC Maximalist but BTC still doesn’t care 😂. THE POWER OF BTC 🙈 ……. GOOD JOB as always Matt

When he gave the basketball analogy, I knew he was a G!

Thank you Matt

Just imagine how many nodes are un-discoverable.

Man you really sound sick, I hope someone is making soup, and covering you with a blanket. If you let them…let them, okay?

I am thankful for this channel,

Happy Thanksgiving to you and your family Matt great video by the way

Great info. Financial advice: if you’re buying Bitcoin then buy from a trusted source and then self custody in cold storage following the correct protocol.

Aye, you're a good egg Matt 👍

Thanks Matt😁

Grateful for the intelligence, the content the growth and the dedication. Happy Thanksgiving Matt!

Happy Thanksgiving sir. Thx for all the time you put in.

That s what i Ve been looking for.. A nice simple clear explanation about the unique quality of BTC..
If you don t mind i ll take note and translate It in my native language , mentioning your channel!
Wish you and everyone else a nice thanksgiving!

Thank You!!

Thankful to have content like this to watch on Thanksgiving Day! Thank you for all that you do Matthew Kratter!

saw one of your videos got tweeted out by Saylor. very cool

Thanks for your work and insights. Happy thanksgiving!

Happy Thanksgiving Matt. Thanks for all the valuable info you put out!

Great info!

Excellent work!

You’re mostly right, but there really are lots of people running Cardano nodes and stake pools. It’s relatively easy to do, and lots of people run the Daedalus wallet, which is an off-the-shelf full node. They even refer to anything other than a full node as a ‘lite wallet’. Not making any point other than to say that there is a culture of running full nodes on Cardano.

Bitcoin mining is centralized to only a few countries. The code repository is guarded only by a few people. Don't fall for the bitcoin maxi garbage.

Canadian trucks still have frozen accounts! At least with Bitcoin you can still live. I remember the RCMP sent letters to exchange to stop transactions, I think Kraken answered back saying they can't stop it. I'm skipping alot of details here but the takeaway is, Bitcoin is another way to live without government completely shutting you out. As long as the current government of Canada is still in those trucks might never get access again or Maybe they have. This is all Chrystia Freeland doing also blacklisting 200 trucking companies. As Deputy prime minister of Canada she's done nothing but act privileged and have the gall to tell Canadians to cancel their Disney plus to afford through heating bills 🤣🤣🤣

Without centralization being the heavy hand that protects or enforces against bad actors trusting people becomes an issue. This is why contract coins or escrows becomes useful it can put the central point of decision making away from the people handling your money and put that as a seperate service like escrow so if they aren’t good at there job they will be out of business or if the protocol of smart contracts don’t work well they wont be used. Having the Bitcoin as truly trust is all on your shoulders is great for a fundamental base layer. I will send you this Bitcoin and i trust you will give me that bicycle im buying from you. Escrow i give Bitcoin to escrow provider when the bicycle is in my hands the escrow provider gives the bitcoin to the person. If there is a problem the traditional legal system is there to dispute in a court of law.

Hi boss, what is your % allocation to crypto in your portfolio excluding real estate? I mean only crypto/stocks/bonds/cash type of porfolio?

Going to the core for those not getting it yet - (which is understandable considering the permanent brainwash nation states are running an all fronts). Thanks Matthew

Thank you for being the light in this dark dark world.