On 10/15/13 12:03, Cathal Garvey wrote: > People focus too much on the "profit" miners make, and not the > verifiability and anarchism they are supposed to be providing to the > bitcoin network. In that regard, arguably the most important, bitcoin > has already failed entirely. > > Of course, bitcoin is a startlingly obvious example of code with > politics baked in, and you're seeing the natural play-out of that > political philosophy in bitcoin with little artificial interruption; > corruption, oligarchy, and the creation of a false market controlled by > monopolistic cartels which fluctuates in price only when it is > profitable to the cartels for it to do so.
I don't see it so bleak. I think the politics are playing out perfectly. With cheap ASICS flooding the market, these come in the reach of ordinary people who can run one on a second hand solar panel during the day. Don't bother wasting expensive electricity on it. With millions of people running these, the influence of the cartels diminishes. And I have a (small) chance of winning the jackpot with the payment fees too. Heck, I bet you can get rich selling kits with a solar panel and a ASIC-miner. Cheers, Guido.
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