Embed Notice
HTML Code
Corresponding Notice
- Embed this notice> What's an organization? Is business? A group of business that commonly trade? A city? A state? My household?
All of the above.
> The theory of the firm, i.e. what qualifies as an organization, is one that has been debated for millenia, and the French and the Germans had historically disagreed greatly on this point — folk or trading partners?
The theory of the firm is primarily concerned with why centralisation happens, not with what semantic definition to apply to firms.
> The fact is that what you really mean by decentralized is that a different order has power, however it may be comprised.
No. Bitcoin is decentralised in that no single organisation controls it. Not even the bitcoin foundation. Any change to the system requires a high degree of consensus from it's users.
> A long time ago, people traded in "decentralized" ways. They used bank notes, sometime discounting them depending on circumstances or ripping them in pieces to divide their value, or in beads, or furs, or metals.
Bank notes are not decentralised. Beads, furs and metals are.
> Nearly every world government ended that. Thus, "decentralization" may be new to you, but governments crushing "currencies" is a tale as old as time.
They didn't end it though. People still trade in commodities all the time.