Post
Topic
Board Bitcoin Discussion
Re: How Bitcoin was hijacked and centralized
by
FreeStreamer
on 22/07/2020, 13:05:43 UTC
This is what happened in 2013-1014. Bitcoin has a design flaw (increasing blocksize) that makes it distribute mining rewards unfairly, so the miners started merging into mining unions to agree about sharing the rewards equally. The largest merger was named Blockstream which pretty much controls all Bitcoins miners and developers.

Your opinion might be true but you should have back it up with facts, there are certain flows with the blockchain network but i don't think the main vision and concept of bitcoin is highjacked.... Miners teaming up to optimize their profits dosen't mean the entire bitcoin network isn't decentralized again... Almost everything still works fine and the network seems to be attracting more and more of people looking for financial freedom daily

Yes, the original vision is not hijacked. It lives on in Monero, where all these Bitcoins prototype design flaws are all fixed and improved. Dynamic blocksize eliminates the miners need to merge and stealth ledger and other improved privacy features conceal their identities and locations better.