Honestly I wish this wasnt driven mostly by get rich traders. They give two shits about how the system should be working. Honestly price should continue to head down as the whole idea of bitcoins worth is at jeopardy(decentralization). It should be nearing 0$ per bitcoin. Bitmain owns entirely too much of this space. The only way to remedy this situation is for all devs to stand together for the betterment of mankind. Not their own personal wealth. EVERYONE! If we just all walk away and ignore them what power do they have? ZERO! If we all succeed we all do better. When the money lies in only the hands of a few well it dont take a long look at history to see how that plays out. Def a turning point for me whether this whole thing is a bust or will make it.
BR
The people have ALWAYS had the power, who do you think back in 2012 was funding BFL and Avalon with millions in interest free loans? It wasn't investment bankers!!!
Those earlier bitcoiners may have believed in the idea but they funded those companies because they saw an opportunity to work within the system to gain a MAJOR advantage over the other users.
Imagine if people said hey we won't give interest free loans to strangers on some wild west cowboy forum. If people had simply never supported this kind of business model it wouldn't work LOL it really is not that complicated! But that isn't realistic, because people!
Bitcoin may yet become a "victim of it's own success" but everyone is playing within the coded rules so one might even argue it's working as intended.
I wonder how many bitcoiners know anything about mining other than it "secures the network". This site is FULL of users new and old that simply now NOTHING about mining. Extrapolate that to the general public of bitcoin users and it's doesn't seem hard to imagine mining is somewhat irrelevant to them. Short sighted approach I think but also very plausible IMO.