Mike Hearn the now inescapable conclusion that it BTC has failed still saddens me greatly. What was meant to be a new, decentralised form of money that lacked “systemically important institutions” and
“too big to fail” has become something even worse: a system completely controlled by just a handful of people. Worse still, the network is on the brink of technical collapse.
The mechanisms that should have prevented this have broken down, as a result there’s no longer much reason to think Bitcoin can actually be better than the existing financial system.
