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!
Indeed. It seems like people forget there were plenty of other manufacturers. I'm certainly no expert on mining, but even I know that KnC, BFL, GAW, HashFast, etc all had their various issues (to put it mildly in some cases) over the years. Some of them were involved in some shady behaviour, others simply weren't profitable operations. They were either marred by criminal proceedings, went bankrupt, or both. Bitmain effectively won by default, simply because they didn't have much in the way of serious opposition. I don't know why some people think it's a damn conspiracy. It's just basic market forces at work.
Honestly if you are not willing to play dirty against bitmain, you already lost.
Yeah, sorry, but no. That's precisely what caused many of them to fail. They played dirty, they suffered the consequences. Consequences like their customers gave them negative publicity because the goods were delivered late, or worse still, never arrived at all. Consequences like the owners got arrested. Things like that. Cause and effect. This isn't revelatory stuff here. Sad to say, but Bitcoin has simply had a pretty sordid history when it comes to hardware manufacturers. Any one of those failed companies mentioned above could have done things differently and maybe we wouldn't have that one dominant company with a monopoly like we do.