1) Its patented and selectively available, in a competitive industry like mining it gives huge advantage and has lead to centralisation of mining and could lead to even more centralisation. Centralisation of mining is not good for bitcoin you agree? We should act to prevent centralisation of mining right?
PoW is winner-take-all anyway.
2) The miner that has benefited from centralisation is now blocking a hugely beneficial protocol upgrade and capacity increase that is for the benefit of all bitcoin holders. By blocking this they are improving their own financial position at the expense of holders and centralising bitcoin to their benefit further.
You make assumptions which might not be true. Blockstream fucking up bitcoin turning it into an experimental blockchain for every whizbang feature and removing the immutability of bitcoin, will remove what makes bitcoin unique from all the altcoins.
bitcoin is a reliable store-of-value. It is not a toaster or anything else you might want it to be.
Published at Thu, 06 Apr 2017 04:06:50 +0000
[wpr5_ebay kw=”bitcoin” num=”1″ ebcat=”” cid=”5338043562″ lang=”en-US” country=”0″ sort=”bestmatch”] – Web Wednesday V83 – 049
bitcoin at Web Wednesday HK – 19th March 2014
83rd social mixer event – networking for the Hong Kong’s internet entrepreneurs and digital media executives.
An interview with two crypto-currency entrepreneurs:
Dave Shin, Founder of Cryptomex, an ambitious alternative for raising company funds via IPOs (initial public offerings) traded in Bitcoins.
Ken Lo, CEO of Anxbtc bitcoin Exchange, a new marketplace for trading Bitcoins, recently launched in Hong Kong.
More on our blog:
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By YB Hong Kong on 2014-03-19 19:12:21
