It's a FUD post. You should mention that it's the same protocol as bitcoin so every other miner can join and the reason right now miners are not many is only because it's new and not many miners support it. With that view, Steemit is also centralized.
RE: Bitcoin Cash is not decentralised! ...92% of the blocks are mined by only 2 miners
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Bitcoin Cash is not decentralised! ...92% of the blocks are mined by only 2 miners
Wtf? 92% of the mining by 2 is centralized. In Steemit you have dozens witnesses 120000 users and who knows how many miners...
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New coins tend to start centralized. As new participants join that changes. Bitcoin started with only 1 person mining it. If BCH can't get more people on board then is not worth it but it's too early to pass judgment.
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No miners in Steemit anymore since the last update. Just witnesses ;)
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I know how many miners. Zero. Also in BCH every user can join and start mining. Can you start witnessing in Steemit without the votes from high SP holders? No problem with Steem though I just used it as a comparison to point out that author is not being fair.
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This was expected at the start due to the difficulty. As the difficulty adjusts and it becomes profitable more miners will join. For now, yes it's a risk but BCH should outgrow this shortly.
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True, though BTC went through a similar "one mining pool has nearly 50% of the total hash power" a couple of years ago the community rallied around to fix that. Some people by moving their hash power into other pools. That was back when there were a lot of small miners and they could make profits without having to buy into the economies of scale that come from a mining farm. That's no longer the case for BTC, and appears not for BCH right now. Until the other miners come along, the proportion of blocks going to two miners does reduce confidence in BCH.
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The Ugly Truth Behind Steemit! https://decentralize.today/the-ugly-truth-behind-steemit-1a525f5e156
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