@janitor I never purposefully omitted anything especially that MAID is also secured by the Bitcoin blockchain because it seemed quite obvious. We have differing opinions on things but I hold nothing personal against you so I’d appreciate if we could hold a conversation in a civil manner next time.
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"BitPay has seen transaction volume increase by 50% just in the last two
months and by 110% in 12 months. We saw record months for bitcoin
transactions in November and December, with more than 100,000 BitPay
invoices processed each month…
In our survey of the global bitcoin consumer economy
in August of 2015, we saw the greatest transaction growth in Latin
America. By the end of 2015, total transactions in the region were up
1747% over transactions in 2014."
Quite impressive growth in the number of transactions for a failed experiment.
https://blog.bitpay.com/understanding-bitcoins-growth-in-2015/
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Yeah too Bad BTC failed and nobody uses it anymore lol
I really love the bitcoin thing; it’s absolutely revolutionary and all. But the more start using it, the higher the fees are gonna go, because free market. Bigger transactions can afford bigger fees. If it gets really adopted, petty transactions like “buying a car” (house, personal jet, etc) might no longer make it to the blockchain.
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Tbh, in many ways Bitcoin has completed its primary goal - it has secured the future of crypto-currencies. It doesn’t need to do anything more to be a success.
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Excellent article on why Bitcoin governance is actually working well.
If anyone should be worried about governance it’s certainly not Bitcoin users.
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Nice article @janitor with some useful insight and observation.
As with everything else I’ve read in response to Hearn, it ignores the central point of the “whiny ragequit” (which is hardly an objective label to perpetuate), which is that bitcoin had failed in its goal of decentralisation of the protocol due to its dependence on a tiny group of dominant miners, located in one part of the world, living under one rather centralised political system.
The article concludes (below) by conflating governance - or rather the ability for anyone to voice their opinion - with decentralisation of the protocol. This is literally the only place he mentions decentralisation, when that is (or was, it would appear) the raison d’etre for bitcoin. Here:
It’s decentralized and available to all. So the bitcoin block size debate is just like the US Constitutional Convention of 1787, except it’s market-based – with trolls!
I think it’s a great article on the points it touches and we can learn from it, but it isn’t addressing the key point Mike Hearn was making (in the OP), that bitcoin has failed because it is no longer a decentralised protocol.
Nobody seems to disagree with this for obvious reasons, but nobody seems willing to talk about it either which speaks volumes. Most people, almost everyone as far as I can tell, appear to be hoping that by ignoring this it won’t cause a problem, because they’re clinging to their investment (financial or psychological).
Main Armstrong has some very interesting observations about markets, one of which is that big shifts don’t happen until almost everyone is wrong. To me, bitcoin has demonstrated that is in this position. What triggers the change, or when, who knows - timing is the hardest part to call - but personally I think bitcoin is currently held together more by group psychology rather than solid foundations (math & solid code). No one shout “BOO” 
… or launch anything that could do the job better 
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Bitcoin fail because credit card and apple pay/android pay works better
the fess and volatility is a no go
and for all these years it’s still haven’t reached version 1.0 yet
Just listened to this and not to spoil it too much but I found the votes to the proposed motion, to be surprising. Tim Draper and Patrick Byrn are guests in this debate. Intelligence Squared U.S. Debates on Apple Podcasts