A quick breakdown of what SWIFT is and why it matters

Re:A quick breakdown of what SWIFT is and why it matters by hprotagonist on Friday February 25, 2022 @03:36PM (#30472063)

> permission-less distributed ledger like Bitcoin is a completely unnecessary waste of resources.

it certainly is when it immediately de facto centralizes! which is in the event what has happened

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Re:A quick breakdown of what SWIFT is and why it matters by bally0241 on Friday February 25, 2022 @04:27PM (#30472569)

I'm not sure how you can say it is de facto centralized. You may have had a decent argument as recently as last summer when most of the mining was done in China. However, we just watched them ban mining there completely, and the network carried on relatively unfazed. Seems pretty distributed to me.

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Re:A quick breakdown of what SWIFT is and why it matters by wyager on Friday February 25, 2022 @04:38PM (#30472671)

> it immediately de facto centralizes

In what respect? Hash power is well-distributed. Consensus (formal and informal) is working as expected.

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