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Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
JorgeStolfi
on 18/01/2016, 19:31:26 UTC
IMHO Bitcoin is good as it is right now, I don't understand why people look for perfection here. Bitcoin works, I'm using it without problems since 2010

It still works fine as a payment system.  But it is no longer a decentralized trustless payment system -- because 80% of the mining is done by 6 companies, of which 4 are Chinese and 1 is Ukranian-Georgian. 

One cannot notice that detail, but those attributes were what made bitcoin different and worthwhile.  Without them, it is just another centralized payment system -- and a terribly slow, complicated, expensive, unreliable, limited, understaffed, and insecure one.

It is like a Tesla whose electric engine has been replaced by a gasoline one.  It still works fine, but...