Big Trouble for Bitcoin (medium.com)

TheCoop1984 writes: A blog post by ex-Bitcoin developer Mike Hearn has highlighted dysfunctional management right at the top of Bitcoin development. He says it is clear Bitcoin is on the verge of collapse, and lays out several compelling reasons why. Quoting: "What was meant to be a new, decentralized form of money that lacked 'systemically important institutions' and 'too big to fail' has become something even worse: a system completely controlled by just a handful of people. Worse still, the network is on the brink of technical collapse. The mechanisms that should have prevented this outcome have broken down, and as a result there’s no longer much reason to think Bitcoin can actually be better than the existing financial system." Is the end of Bitcoin on the horizon?

Comments

Whew!

[scunc]

Good thing I threw all my resources into mining Dogecoins instead, otherwise I'd look like an idiot right now!
--
Such currency. Very crypto. Wow ...

Re:I'm I the only one

[Crowd Computing]

The mechanisms that should have prevented this outcome have broken down, and as a result there’s no longer much reason to think Bitcoin can actually be better than the existing financial system." Is the end of Bitcoin on the horizon?

Xcoiners have nothing to fear. The existing financial system is also on the verge of collapse. It's just a matter of who goes first.

lol

[Rinikusu]

*snicker*

bittards.

systemd

[Hognoxious]

Systemd has a built in bitcoin mining facility.

Bitcoin may die

[93 Escort Wagon]

But the Slashdot postings about Bitcoin will probably continue forever.

Re:I'm I the only one

[crow_t_robot]

This post brought to you by Lear Capital, the number one buyer of ad time on Fox News.

Re:Buying!!

[OakDragon]

I'm putting everything in Quatloos.