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January 15, 2016 04:00 pm
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/NfzUoreDdcU/big-trouble-for-bitcoin
Big Trouble for Bitcoin
TheCoop1984 writes: A blog post by ex-Bitcoin developer Mike Hearn has highlighted dysfunctional management right at the top of Bitcoin development. He says it is clear Bitcoin is on the verge of collapse, and lays out several compelling reasons why. Quoting: "What was meant to be a new, decentralized form of money that lacked 'systemically important institutions' and 'too big to fail' has become something even worse: a system completely controlled by just a handful of people. Worse still, the network is on the brink of technical collapse. The mechanisms that should have prevented this outcome have broken down, and as a result there’s no longer much reason to think Bitcoin can actually be better than the existing financial system." Is the end of Bitcoin on the horizon?Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/NfzUoreDdcU/big-trouble-for-bitcoin
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