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geneusutwerk  ·  4350 days ago  ·  link  ·    ·  parent  ·  post: Bitcoin loses 44% of its value in one day. Dropping from over $250 to around $150

I find this call for action over on /r/bitcoins really interesting.

For those not wanting to click it is a request for four things to be focused on:

1) Change in max block size. 2) Decentralization of mining/end of guilds. 3) Decentralize the exchanges. 4) Improvement on hardware wallet and services like bitpay.

I find it really interesting because 2 and 3 are basically issues attacking trusts. This is something that regulators go after. Bitcoin supporters solution to these problems is to lower the barrier to entry for people it seems (at least for 3, not sure about 2). This might solve it, but they are fighting against people who want to pool their resources, and especially for an exchange this has a lot of advantages that I believe would consistently lead to monopolies or oligopolies in exchanges.

I hope this makes sense. And for clarity. I am not super knowledgable of bitcoins.