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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?
Whew? Not yet. Anyone wanna buy my bitcoins?
I'd be happy to buy your bit coins even exchange for $1 dollar/coin. Cash!
Some drink at the fountain of knowledge. Others just gargle.
Who thinks this reads like a "Netcraft Confirms" post? Besides, Bitcoin's not going anywhere as long as folks are using it to buy drugs
Bitcoin as a unit of exchange is only worthwhile to those that aren't enthusiasts if it actually holds its value. If Bitcoin crashes, drug dealers will simply switch to a fiat currency again. It was used because it was convenient, not because it was special.
Do not look into laser with remaining eye.