Big Trouble for Bitcoin (medium.com)

Posted by Soulskill on Friday January 15, 2016 @02:36AM from the ruh-roh-shaggy dept.

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?

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Re:Flouncing for market manipulation and COINTELPR by Anonymous Coward · 2016-01-15 04:00 · Score: 0, Troll

Fuck you you Nazi scumbag piece of shit.
All Pyramid Schemes Have to End Sometime by wisnoskij · 2016-01-15 04:08 · Score: 1, Troll

They are unsustainable by their very nature.

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