Article about Bitcoin's worrying internal problems

There might be bigger problems than Quantik on the horizon


Comments


[3 Points] cutthelineson:

idgaf as long as bitcoin gets me drugs


[2 Points] The_fire_bird:

I couldn't help but face-desk the part that says:

is controlled by China.

The western world could easily match China's power in that regard, but because our banking companies tell people not to use it, and that's where most people's money already is, we don't use it.

Only a few people in the west seem to have understood how much potential bitcoin has. Until we start adopting it, it will never be anything more than potential. It's sad because people in the west have their money in the bank, and think it's safe there -- in reality it just isn't. If every single person asked the bank for their balance, we woudn't even get 5% of it. The remaining 95% would be worthless IOUs.

Only at that moment will people see the benefit of running their own financial network. Unfortunately, I don't see that happening any time soon.

And yes, I agree with BBMC on the principle that the author's criticisms appear to stem from sour grapes at the idea of bitcoin not going the he think is best (reminds me of Cody Wilson in a way). And in the last 12 hours bitcoin has taken an odd tumble in price... Hmmmm...

Edit: From the thread about encrypted smart phones being banned - I keep forgetting that in NY bitcoin is illegal. Can't remember if it's truly illegal or if it's just "as good as". I believe living without a bank account also gets you so much suspicion that again, it's practically illegal by stealth. Free pass to those unfortunate enough to live there, but seriously, how long before NY residents really get pushed to the limit?


[1 Points] douknowwhattimeitis:

nigga wut


[1 Points] Vendor_BBMC:

he's just bitching to get his way in the block size debate. This is something you would expect in a decentralized (ie anarchic) system. It didn't used to happen because bitcoin was centralized around what satoshi decided, when he was alive.

Now it actually is decentralized.


[1 Points] polaroidandroid1:

METH


[1 Points] noonehear:

Mike Hearn also conveniently now works for big banks...