Ninjastic
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
Sitarow
on 21/01/2016, 20:25:34 UTC
Quote from: CuntChocula on January 21, 2016, 08:05:48 PM
Quote from: Sitarow on January 21, 2016, 07:43:29 PM
Quote from: CuntChocula on January 21, 2016, 07:33:35 PM
Quote from: BlindMayorBitcorn on January 21, 2016, 07:13:16 PM
Bitcoin was interesting when it was an experiment, when it ran. It’s 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.  Cry

"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."



#1 BTC = Global, not a single country.
Which only makes things moar lopsidedly hilarious: Hundreds of central banks, in hundreds of countries, vs. 4 bros in Chian.
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#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 :-
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#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."
Cheesy

I think you may be trolling Smiley however for those that may be reading your reply then please indulge further.

#1 The "hashpower" is migratory and can move in less time than it takes for you to wire funds to your exchange of choice and get transferred to BTC.
#2 Anyone including you can step up to the plate and provide a solution that will attain consensus Cheesy
#3  "Bitcoin can't even agre"? Bitcoin is not an individual there fore no agreement necessary. What you mention is the different perspectives that people have to resolve issues that may or may not fit into their expectations of what Bitcoin is or should do.

No attempt to present disingenuous views will change the fact that bitcoin and this technology has a flexibility that those in the old world are uncomfortable with. Bitcoin and the block chain technology has enabled all
participants the ability to choose the best solutions that are put forward.