STOP ARGUING. Miners CAN NOT "centralize" bitcoin because it is against their financial incentive. Bitcoin is designed to self-regulate against all this nonsense. Though it might lead to the situation where BTC is not the "real bitcoin" if everyone is not careful

This is something I can extrapolate from how people do business naturally just like you. You want transaction cost to be low? You will want to maintain as few channels as possible to avoid costs of reconciling on the blockchain for each channel. To be able to transact with the largest amount of users, you will want to open a few channels that will allow you to do transactions with as many users as possible through those channels. Other users will want to use channels to those nodes to to access as much users as possible too, especially merchants. They will want to be able to open channels to as few nodes as possible, as maintaining many channels with each user is unmanageable and forces you do distribute your BTC assets.

By default, those nodes that offer the greatest connectivity will be a focal point. Those nodes will need to settle many transactions with the blockchain so they will need a large amount of cash to support the many transaction fees.

See where this is going? It will lead to a few central nodes that everyone does their transactions through which need to be backed by big money... like paypal or visa.......

On top of that, the moment these nodes try to charge a fee for the service makes them a "common carrier" which means they are subject to Patriot Act Title II in the US and simmilar statutes in western world - which means they are required to disclose transaction amounts and accounts if prompted by subpoena from extrajudicial FISA courts.

HMMMM.... . this sounds a lot less appealing than direct peer 2 peer transactions with no middlemen involved which are not subject to the same rules.

It doesnt matter they mathematically can't know the parties they are facilitating the transactions, without being able to do so, it makes their operation illegal, just like you cant transport a mysterious locked box between two parties for a fee and expect not to be subject to money laundering laws just because you don;t have the key to the box.

This isn't propaganda - its fact and people need to seriously consider the implications of a networked systems which is fundamentally different from a direct peer 2 peer broadcast system like core bitcoin is

/r/Bitcoin Thread Parent