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The resolution of the Bitcoin experiment

🔒 medium.com

Why has Bitcoin failed? It has failed because the community has failed. 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. Worse still, the network is on the brink of technical collapse. The mechanisms that should have prevented this outcome have broken down, and as a result there’s no longer much reason to think Bitcoin can actually be better than the existing financial system.

Posted on January 14, 2016

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