"Bitcoin Will Bite the Dust" report

[adzino]

As clear as mud! If there is a weakness in the system and a point of failure, it is not explained in a manner that is comprehensible. Are these people like astrologers trying to explain astronomical phenomenon? Or, are they like the "climatologists" who are paid to "prove" climate change is due to human activity.

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[Kakmakr]

When was this article written? Looks like they pulled these stats when Ghash was still dominant.
This is the latest information on pools : https://blockchain.info/pools <Am I missing something?>
I see no Armageddon here. Looks like a FUD attempt or someone who wants to push Ripple or gold or Silver?
Well written, but poorly executed. ^HeH^

[QuestionAuthority]

I would have thought with the inputs received from Gavin Andresen, as stated in their credits, they would have understood the basics of mining pools. This natural monopoly that are being created by China and some of the bigger mining pools are still more decentralized than the fiat system.

The "failed experiment" would only fail, if the cow dies. This is the part that they do not understand. If these mining pools create a situation where they can double spend, people would leave Bitcoin and they will be left with something with no value. It is not in their interrest to kill the cow, that is producing the milk.

The mining monopoly is not a good thing, but it is not a issue, when you consider the result. 

Gavin and Co. don't think mining is a centralized monopoly. They think mining is well distributed and there's no need for change.

[manselr]

Im yet to see a proper critique that's hard enough to predict an outcome of "Bitcoin dying" that is convincing enough to be considered seriously. This is all over again taking things out of context and not understanding a lot of key subjects on BTC and the protocol.

[Hollingsworth]

This report has as much credence as the recent Accenture Report advising the UK government to require all bitcoin wallet holders to be regulated and identified like bank account holders.

http://www.coindesk.com/accenture-uk-government-should-regulate-bitcoin-wallets/

Do these people even know how bitcoin works? Or why was it was even created in the first place?

Ignorance is not a virtue, but boasting upon ignorance is a sin.

H.

[Gyfts]

The perspective taken by the author of this report is very common for people against the concept of Bitcoin. They don't believing the network is sustainable in the long term which means it will inevitably collapse on itself (specifically referring to the miners). I for one disagree. I think the Bitcoin network will become stronger and stronger as more people of the public begin to accept it. Once it hits mainstream markets, there's nothing that could hint a collapse in my opinion.

[jjacob]

Im yet to see a proper critique that's hard enough to predict an outcome of "Bitcoin dying" that is convincing enough to be considered seriously. This is all over again taking things out of context and not understanding a lot of key subjects on BTC and the protocol.

Possibly because it is impossible to have a proper critique which concludes that Bitcoin is dying?
Even if the critique is not exhaustive, people should at least try harder.