The Resolution of the Bitcoin Experiment [Link]

January 15, 2016 by Gabe | [mmd] | ℳ↫

From Mike Hearn:

Think about it. If you had never heard about Bitcoin before, would you care about a payments network that: Couldn’t move your existing money Had wildly unpredictable fees that were high and rising fast Allowed buyers to take back payments they’d made after walking out of shops, by simply pressing a button (if you aren’t aware of this “feature” that’s because Bitcoin was only just changed to allow it) Is suffering large backlogs and flaky payments … which is controlled by China … and in which the companies and people building it were in open civil war? I’m going to hazard a guess that the answer is no.