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1. Mayel - ghost account (mayel@social.coop)'s status on Saturday, 09-Dec-2017 07:20:08 EST Mayel - ghost account

   "The #bitcoin #cryptocurrency was supposed to replace the #finance industry. Instead, it has replicated it.

   Nakamoto wanted to create a system for #payments that would circumvent governments, bankers, and corporations. Instead, Bitcoin is now a get-rich-quick scheme that retains none of the exciting, anarchist features it proposed and has created a secondary #economy with financial shenanigans that mirror the ones that led to the global financial crisis."

   https://theoutline.com/post/2592/bitcoin-is-none-of-the-things-it-was-supposed-to-be

   1. Tomas SA2TMS (tomas@social.umeahackerspace.se)'s status on Saturday, 09-Dec-2017 11:21:18 EST Tomas SA2TMS

      in reply to
      Bitcoin is a victim of its own success. You can't expect a system, where every single user must have a complete copy of the global state, to scale. Increasing block sizes to 4 or 8 MiB or whatever won't really fix that. Plus the speculation bubble ruins things, as the article points out
   2. ghostdancer (ghostdancer@quitter.se)'s status on Tuesday, 12-Dec-2017 10:26:22 EST ghostdancer

      in reply to
      @mayel Absorb and assimilate, the system always does that with things that can run out of its control.