You are at: Home » Bitcoin Obituaries » 2020 » ‘Bitcoin is a Disaster’ – metzdowd | $27,084.81

It is my opinion that Bitcoin is a failure. Worse than that, it’s a
disaster…

So, Bitcoin was a good effort, it deployed some new ideas and
technology, and showed that at some scale the “block chain” idea
worked, but ultimately, although a successful proof of concept, failed
to deliver. It doesn’t scale, except by becoming the very thing it was
supposed to replace.

The more scalable the network becomes, the more centralized it becomes,
until ultimately a “scalable” cryptocurrency would be doing things
exactly the same way as a credit card processor.

Eulogy made by Ray Dillinger

Source

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