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RE: Bitcoin: The Soft Insurrection Driving Economists into a Puddle of Tears

in #bitcoin7 years ago

I came across a post on LinkedIn this week that claimed Bitcoin couldn't be successful unless it had a central trusted body behind it. They completely missed the point - it is trusted because it has no central body, not to mention it is already successful and has billions of establishment money pouring into it. They cited the issues with miners being the problem but forget that if miners cause problems the community will back a hard fork that negates that problem. With a centralised body that gets nobbled by crooked governments or oligarchs you just don't have that option.

Personally I think the only threat to Bitcoin is the power being used by PoW miners which will increase as the price increases because the block rewards are not decreasing fast enough, and you also have the rise of Ethereum which may ultimately take over.

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