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Prominent bitcoin developer throws in the towel

vkt
in Off-Topic
Fascinating reading (especially if you are technically inclined) from one Bitcoin developer that decided to get out

https://medium.com/@octskyward/the-resolution-of-the-bitcoin-experiment-dabb30201f7

Interesting details about how this thing actually ran. Having been involved in many standards organizations over my career where many self-interested parties come together to build "consensus", I can relate to some of the things that happened here.

This developer has it right. It was an experiment that failed with the goals that it tried to address. But there will be some transfer of ideas and technology into other areas from all such experiments.

This is why I commented on the thread with the article link about Six Technologies that will change the world in one my first posts back in Dec

http://www.mutualfundobserver.com/discuss/discussion/comment/73097/

I hear that kind of superficial hype in the Bay Area all the time and in this case the author was even behind the times to realize the bitcoin hype was already over here.

Comments

  • FundStudent
    "What was meant to be a new, decentralised 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."

    What a sad demise - to become what you despise.
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