Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Bitcoin was interesting when it was an experiment, when it ran. Its crawling now, crawling toward instability.
http://www.coindesk.com/is-bitcoin-for-the-masses-or-against-the-state/
Even the cheap rags are onto us.
http://www.coindesk.com/is-bitcoin-for-the-masses-or-against-the-state/
Even the cheap rags are onto us.
"One could even go so far as to claim the current banking system is more decentralized than bitcoin at this point. The Federal Reserve is composed of 12 banks across the country which then lend money to the nearly 7,000 banks in the country, not to mention the thousands of credit unions as well.
On the other hand, bitcoin (although still in its infancy) is currently managed primarily by four large mining pools, all out of China. While these pools are networks of many individual miners, there is uneasiness about this predisposition."
http://s2.postimg.org/dbb1ohovd/neigh.jpg
#1 BTC = Global, not a single country.
Quote
#2 BTC = Public Ledger and distributed, Unlike banks that don't even trust one another's books.
Bitcoin's core devs are at war with each other :-Quote
#3 BTC and its participants can migrate to a better horizon solution at a moments notice. Unlike bank that don't have a trusted backup that they would ever agree on due to political situations and commitments.
"A better horizon solution at a moments notice"? Bitcoin can't even agree on a trivial issue like blocksize in ...how long has this drama been going on? A year? That's right, about a year.Tell me more about "a moments [sic] notice."
