Quote from: CryptoAddict on April 02, 2016, 09:53:48 AM

The fact that Bitcoin has any value is largely because of the PoW mining process.

Do you know why POW mining is fair? Because it allows outsiders to get coins WITHOUT BUYING THEM FROM A CURRENT HOLDER.
Premine 100% ? What a fucking joke. Do you seriously think there is any future to this setup.

And BTW, why the name? Do you know what a RIMJOB is??

For a moment there, I thought there was an intelligent comment coming. Then I started reading.

The PoW process is what will sink Bitcoin.

Mining is consuming enormous amounts of power, it is controlled by just a few companies who can afford to spend tens of millions in mining equipment, and is the reason why BTC transactions are taking hours to process.

You think that outsiders can get BTC from somewhere other than a CURRENT HOLDER? Name one.
YOU can't mine Bitcoin. If you could, you wouldn't have enough electricity left over to post your messages!

Oh, unless I suppose you're bigger than Denmark ... http://www.extremetech.com/extreme/225660-bitcoin-could-soon-use-more-power-than-denmark-but-help-is-on-the-way

BTC is a pretty good coin which is why it has seen success. But, there are flaws in it's design that some of the biggest BTC holders have known about for years. It can be fixed, but they don't want to because it would require a massive amount of work and the public acknowledgement of the problem would drive BTC prices into the ground.

Either you don't know, or don't want to know, that some of the biggest holders of BTC (the ones who are controlling it's future) have huge stockpiles of BTC that they can cash out in 2017. How many problems do you really think they want to acknowledge before they have their billions in cash?