I no longer consider bitcoin as a decentralized currency...

[Maidak]

I'm not saying I have lost any faith but it is lost its touch since I was introduced in 09 if anything it has become monopolized.

What is killing the bitcoin are the multi-million dollar data-centers dedicated to mining, little to no acceptance as an alternative payment method, nearly impossible to keep up with difficulty increases, and limited peer to peer exchanges.

Tell me otherwise?

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[Dogtanian]

Why are the mining centers killing it? More and more merchants are accpeting btc daily, you just need patience. It's going to be a slow process.

[Kapz786]

The volatility is killing it - small deviations are fine but not the huge drops and rises we see every few months

[Maidak]

Why are the mining centers killing it? More and more merchants are accpeting btc daily, you just need patience. It's going to be a slow process.

I've done my fair share in spreading this anywhere in all local shops explaining benefits, no charge back risks little to no fees. Its been 7 years now and I've yet to see a single store in my area to accept bitcoins for something as simple as a doughnut. I understand slow process but where is the decentralization or hardware that is worth purchasing? What makes bitcoin decentralized anymore?

[Maidak]

The volatility is killing it - small deviations are fine but not the huge drops and rises we see every few months

And these huge drops and rises who or what is causing it other then media?

[Kapz786]

The volatility is killing it - small deviations are fine but not the huge drops and rises we see every few months

And these huge drops and rises who or what is causing it other then media?

TBH I think the "Bitcoin Theives" - the people that stole from Gox, Silk Road etc. With such a large amount stolen they are offloading the coins fast and shorting the price.

[xeroc]

I'm not saying I have lost any faith but it is lost its touch since I was introduced in 09 if anything it has become monopolized.

What is killing the bitcoin are the multi-million dollar data-centers dedicated to mining, little to no acceptance as an alternative payment method, nearly impossible to keep up with difficulty increases, and limited peer to peer exchanges.

I have the same problems with BTC. That's why I am mainly out of PoW coins and almost fully in PoS coins.

[Dalmar]

The volatility is killing it - small deviations are fine but not the huge drops and rises we see every few months

Without volatility = 90% of traders would not be interested in it.

You can't get huge leverage on bitcoin like with forex, so bitcoin gets its liquidity from volatility. Without volatility it would be even more illiquid.

[Dalmar]

I'm not saying I have lost any faith but it is lost its touch since I was introduced in 09 if anything it has become monopolized.

What is killing the bitcoin are the multi-million dollar data-centers dedicated to mining, little to no acceptance as an alternative payment method, nearly impossible to keep up with difficulty increases, and limited peer to peer exchanges.

Tell me otherwise?

This is like complaining that professional gold miners are centralizing gold too much, what about us pan miners?? lol.

[Foxpup]

Its been 7 years now

Has it? My time machine must be acting up again.

[roslinpl]

"I no longer consider bitcoin as a decentralized currency"

A problem with decentralized currencies is indeed that they are not really decentralized right now.

too many 3rd parties companies are in this world.
But we can still use our bitcoins as a decentralized currency - it mostly depends on how we earn btc, and how we spend them.
IMO.

[Cryptogirl82]

I'm not saying I have lost any faith but it is lost its touch since I was introduced in 09 if anything it has become monopolized.

What is killing the bitcoin are the multi-million dollar data-centers dedicated to mining, little to no acceptance as an alternative payment method, nearly impossible to keep up with difficulty increases, and limited peer to peer exchanges.

Tell me otherwise?

ok then give me your btc and run along then!

[Lauda]

Some people just have more money to invest into mining it. This was expected. It is still a decentralized currency.

[MarketNeutral]

You mention doughnuts. That's fine, as doughnuts are tasty and ubiquitous, but is that really what bitcoin is best designed for, namely, small real-world transactions? Bitcoin can indeed handle small real-world transactions, but it instead really shines as a global remittance system that puts SWIFT to shame, or as a secure-way to purchase high-end goods globally.

[nakaone]

the selfishness of miners will be one of the biggest issues for bitcoins.

[gagalady]

Maybe the richest and smartest people trying to "squeeze out the most juice" of bitcoin and maybe they really effect the price somehow and the price is bouncing but I hope It wont last forever... 

[dogechode]

Interesting topic. Yeah it isn't even remotely de-centralized since there are a few juggernauts who control the vast majority of coins. Likewise for more altcoins. Some coins *cough* blackcoin *cough* even have shadowy groups of holders who make backroom agreements not to sell below X price. And yes, the major investors and farm-builders have effectively taken BTC out of the hands of the individual.

[MarketNeutral]

I'd rather have my transactions secured by temperature-controlled, dedicated ASIC farms than by bots, over-heating laptops, and dysfunctional youth installing backdoor cpu miners on their parents' PCs because they're jealous of the early adopters. Move on. The early, wild west days of bitcoin are over. They were glorious and thrilling. But looking forward towards innovation and merchant adoption should be a priority, not decrying that the way things are now isn't the way you think they ought to be.

If you are incapable or not inclined to help bitcoin grow with its merchant adoption and are determined to stay focused on the mining aspect, then support p2pool any way you can.

ASICs are not intrinsically good or bad, yet they are inevitable beyond a certain threshold of success that bitcoin crossed a long time ago. Centralized mining is indeed problematic, but ASICs do not cause it. During the CPU, GPU, and FPGA days of bitcoin mining, the network was more vulnerable to attack than it is now. 51% attacks loomed far more frequently then than they do now.

Like most security vulnerabilities, it's human nature, hubris, and greed that's the weakest link, not the actual tech itself.

[RodeoX]

Bitcoin is a level playing field, but it is not a giveaway. You could also have taken the risk of starting your own data center. There is nothing unfair about it. Those who go big face greater risk but may realize greater profit. If you don't like the idea of true competition we could fork the chain and say all miners must buy a permit that rations the hashing power of the network. Is that a better idea? I don't think so.
Our current system does not care who you are, only what resources you bring to the network. The more you work and invest in equiptment the more you are likely to be successfull. This was an issue when CPU mining went away. Some people argued that it woud "kill" bitcoin because only rich kids with fancy gaming PCs would be profitable.

For me the bottom line is that bitcoin is a logical payment system, not a get rich quick scheme. The honey badger does not give a shit about us and our ambitions. It seeks only to grow stronger

[Lauda]

the selfishness of miners will be one of the biggest issues for bitcoins.

Yet the important few keep switching to prevent one of the pools to reach 40% or more of the hashrate. (I do think that some have hit that percentage for a short amount of time)