|morlockelloi on Fri, 15 Jan 2016 04:29:04 +0100 (CET)|
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|Re: <nettime> de Jong, Lovink, and Riemens: 10 Bitcoin Myths #ANON|
...Why has Bitcoin failed? It has failed because the community has failed. 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.
... > Bitcoin mining is currently reduced to less than 10 operators. There is > relatively small number of people involved, and none of these seem to have a > standing army or a navy. How much would it cost to coerce/subvert 51% of these # distributed via <nettime>: no commercial use without permission # <nettime> is a moderated mailing list for net criticism, # collaborative text filtering and cultural politics of the nets # more info: http://mx.kein.org/mailman/listinfo/nettime-l # archive: http://www.nettime.org contact: firstname.lastname@example.org # @nettime_bot tweets mail w/ sender unless #ANON is in Subject: