Is Bitcoin the final form for humanity?
Decentralization has long been dreamed by all different social models, is there another step to be taken?
Can humanity (humans) learn to hang on and manage their finances?
Or is Bitcoin an experiment to show that we're not capable of managing our own belongings and do require central authority?

Currently Grayscale's bitcoin trust owns 654k and the top companies hold 200k, that's 854k bitcoins out of circulation from 21million, not to mention an estimated million more lost. We see alot of bitcoin integrations from paypal, mastercard but is there a public for that? With hour long payment confirmations, I just don't see it as a payment form in everyday life. Has bitcoin turned into an investment wagon or is there still a possibility of it becoming an everyday payment currency?

What are your opinions on whether bitcoins mining algorithm should change to an asic resistant algorithm?

Based on Bitcoins principle to be a decentralized currency, shouldn't this be adopted?
It's only viable to mine bitcoin with asic hardware and that's kinda centralized with whoever
has more money to invest in these machines.

It's very close to PoS because both you would need alot of cash to participate and that goes
against the the principle of decentralization because on both algorithms, only the rich can
join the network. That creates a door for centralization.
Yes yes I know that not one entity can control it but if the 3 largest pools decide to act against it,
they can.
According to https://www.buybitcoinworldwide.com/mining/pools/, BTC.com, AntPool and ViaBTC
control 52.4%. That's only 3 pools that could control the network.
Obviously if they did this and it was discovered, the price would go way down so it is against their
interest.
But this is crazy, only 3 "companies" could take control of the network, that's against a liquid democracy
and certainly doesn't favor everyone to participate as a node.

I searched for this topic but couldn't find anything related on google nor on the forums.

What are your thoughts on this?

Thanks for the feedback. The research was on Cryptocurrencies, not just bitcoin. I may have focused on bitcoin somewhere but there are a bunch of altcoins that can beat Visa's threshold of TX/Sec.
I agree, a learning curve would've been a hell of a topic but my time was limited in this research. It's quite extensive because I had to map out the architecture between the two technologies to explain a few aspects.

I agree that right now it's quite complicated to setup your own wallet and maintain it yourself and security is more to the point of user experience. Making transactions irreversible is quite dangerous in purchasing scenarios but I believe that escrow transactions can solve this to a good extent. I also believe that a self-governing cryptocurrency can be created to settle disputes. NXT is a coin I believe is on the right track if they focus on creating a reputation system like eBay does with other users being rewarded for governing the system to avoid fraudulent sales and scams but of course, no system is perfect but I think were getting really close to a 99% decentralized economy. 

Hi,

I'm not here to promote myself but rather share a research I did in college regarding the clearance and operational process of cryptocurrencies and credit cards. It's a case analysis for the various situations that involves the movement of money in everyday operations.

https://www.linkedin.com/pulse/clearance-comparison-between-credit-cards-nicholas-leonardi/?lipi=urn%3Ali%3Apage%3Ad_flagship3_profile_view_base_post_details%3B3jj3x2ZaSae%2Be3lIkRY7Ow%3D%3D

I apologize if it's the wrong section and I'll be happy to move to it to a more appropriate one if there is.

It's an extensive 30 page research where I explain the structure of both payment systems and then do a case analysis on the aspects of security, cost and efficiency.

Criticize as much as possible, I'd love to hear your points of view whether you agree or disagree on certain aspects.

I've found a scalability solution for blockchain systems.
The current problem is that the processing layer and storage layer are
in the same ecosystem.
The solution would be to separate them.
Create a layer for processing so the blockchain would work with a fixed number of
blocks like 1000 to prevent double-spending or network manipulation
and another layer for storage of information.
When a new block is mined, the first block in the blockchain is then processed to the
storage layer, where the transactions have occurred. Thus, writing what is necessary
in the storage layer.
Think of it as how traditional methods do it except it would kind of be like "two" blockchains
working in parallel.

Any thoughts?

The future of Cryptocurrency (Bitcoin being the leader) is within
my future startup.
I will explain.

From what I have researched, cryptocurrency has an acceptance
issue due to some false claims.

The first one is it will be used for illegal activities. This is the most controversial
aspect because of the media, which have no knowledge of the system.
Illegal activities have and always will exist, doesn't matter the type of system
used for the exchange of goods and services. The claims is that it will make
transactions easier. This is a completely false statement to lure the majority
into believing this. If people want to commit illegal activities, transactions
have NEVER been a part of the problem.

The second false claim is that it won't be viable because governments won't and
aren't accepting it as a currency. The reason to this is because they know that
their economic and corrupt power will end due to the TRUE DEMOCRATIC
ECONOMY emerging. Imagine, all these dominant countries lose their power
because people now have freedom to truly earn what they deserve, without having
to give part of it away because some retarded politicians want an easy life and
leech off the hard workers. Thing about it, would you be productive in a trashy
workplace without the need for janitors?
Of course not. Each one has an important role in a company.

The third false claim (and this is for the more technical geeks) is that the network
won't be able to handle micropayments. This is true in one aspect, but why use one
virtual currency when there are a lot more that can be converted into others, using
the necessary conversion in order to process a transaction more efficiently. For
example, you live in a country that uses Euro and you are buying something from
India, the conversion as of today (October 7th, 2015) is 1 Euro = 73 Rupees. Lets
pretend that what you are buying is equal to 1 Million euros. Do you think the seller
would prefer 1 Million in Euro money or 73 Million rupees? Obviously the 73 million
rupees would require more security, counting and checking. That would require the
buyer or the seller to pay more in taxes for intermediaries to count the money, make
sure it is safe and that the transaction is legit or you could just send 5 bitcoins (fictional
conversion) in mere minutes to complete the transaction.. My points here is that there are
3 virtual currencies that will dominate the market depending on the need of the individual
or company.

The fourth false claim is that the network will lose it's ability to process transactions
due to the high cost. This is completely false because it will interest someone or
some company. If a company is making money with cryptocurrency, they will have
a high interest in investing in the network to run as smoothly as possible for their
own benefit thus continuing the processes without the need of the declining network
and it will be accepted because it will already be a mainstream payment like credit cards.The future of Cryptocurrency (Bitcoin being the leader) is within
my future startup.
I will explain.

From what I have researched, cryptocurrency has an acceptance
issue due to some false claims.
The first one being is used for illegal activities. This is the most controversial
aspect because of the media, which have no knowledge of the system.
Illegal activities have and always will exist, doesn't matter the type of system
used for the exchange of goods and services.


Please,
Make your contradictions and I will reply to them, I am positive that I can
contradict any argument because I believe that cryptocurrency
will go mainstream VERY SOON due to it's high potential that no
other type of payment system can be equivalent.