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Messages - underjohn

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IDentabit / Re: John Underwood Visit
« on: December 20, 2014, 10:25:11 pm »
Many thanks, we're of the opinion Bitcoin has a bunch problems as a remittance currency and that these efforts help prepare the market for change. We shall see, we live in exciting times :-)

Personally I believe it's game over for Bitcoin. I could give numerous reasons, the content of this post being one of them but this reason tops them all; the negative attitude the core Dev. team has towards API's says it all. Their need to hold on to omnipotence reflects why Bitcoin will wither and die.

There have been many negative predictions regarding Bitcoin's demise so I don't expect to be taken seriously but here's my take.

Three fundamental factors are in play:

Firstly people are realising virtually no one is using Bitcoin for payments and likely will not, why would they given the hoops they jumped through to buy it.

Secondly without a valid payment example, cryptos don't have consumer support and consequently investors have tacitly recognised that no one other than the crypto community gives a damn about regulations.

Finally and most importantly PoW, once seen as a pure solution, is increasingly seen as flawed as there is now a credible alternative, something that Dan and DPoS can take some pride in revealing.

In summary the fanaticism that kept Bitcoin alive has simply run out of air.

In my view Bitcoin it's simply kept alive by a tight Chinese business model stemming from the need of the cadres to discreetly move money out of China.

As this reality sinks in a vacuum is being created, one that the Bitshares platform can fill but only if we see it associated with a currency that is 'used' by consumers and adopted by the existing Bitcoin infrastructure.

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