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> […] Make payments easier and more independent of third parties. > > So far, Bitcoin has not achieved this well. The second goal is achieved spot on, it was o

> […] Make payments easier and more independent of third parties. > > So far, Bitcoin has not achieved this well. The second goal is achieved spot on, it was one of the main reasons why Bitcoin was created in the first place. The first goal, well, that one is a bit more complicated. What's missing are good apps with decent UX. Though keep in mind that wallet apps should be seen as something separate from the bitcoin protocol. The protocol is solid, proven, it's here to stay. What needs to improve are the apps. And out of the many apps. I usually recommend coinbase app. It's still the easiest way to get started (buy crypto using fiat), even if it's developed by a third-party.

TekMol 8y ago
The second goal is achieved spot on I don't think so. First of all: To make a Bitcoin payment you need to install native software. At this point you are already 100% at the mercy of the author of that software. They can do whatever they want. To your secret keys and other data on your machine. Second: Bitmain could ramp up their hashrate or group with another big miner, control the chain and reverse your transactions. Third: As we have seen with Ethereum and the Dao fork, when the people in power decide to reassign value, they do. In this regard, a blockchain is not different from a government controlled currency. As things currently are, I feel way more in control of fiat then of crypto.
- m-i-l 8y ago
  > "I feel way more in control of fiat then of crypto." I have to agree. I know it wasn't meant to turn out this way, but with crypto almost all the wealth and power has been concentrated in the hands of a tiny number of unelected often anonymous and largely corrupt individuals. At least with the government we have (limited) role in their selection, know who they are, and let's face it they're almost certainly less corrupt than the shady characters now in control of crypto.
- wereHamster 8y ago
  I don't see wallet apps and miners as third-parties. These parties have inherent interest in crypto succeeding. If miners start attacking the network that hurts the value of the currency. In my view a third-party would be your ISP (that wants to deep inspect your packets to see who you are transacting with), or an government. You are in control of fiat only if you are in control of your government. Not many countries are democratic. And even those who are, are often only so on paper.

TekMol 8y ago

The second goal is achieved spot on I don't think so. First of all: To make a Bitcoin payment you need to install native software. At this point you are already 100% at the mercy of the author of that software. They can do whatever they want. To your secret keys and other data on your machine. Second: Bitmain could ramp up their hashrate or group with another big miner, control the chain and reverse your transactions. Third: As we have seen with Ethereum and the Dao fork, when the people in power decide to reassign value, they do. In this regard, a blockchain is not different from a government controlled currency. As things currently are, I feel way more in control of fiat then of crypto.

m-i-l 8y ago
> "I feel way more in control of fiat then of crypto." I have to agree. I know it wasn't meant to turn out this way, but with crypto almost all the wealth and power has been concentrated in the hands of a tiny number of unelected often anonymous and largely corrupt individuals. At least with the government we have (limited) role in their selection, know who they are, and let's face it they're almost certainly less corrupt than the shady characters now in control of crypto.
wereHamster 8y ago
I don't see wallet apps and miners as third-parties. These parties have inherent interest in crypto succeeding. If miners start attacking the network that hurts the value of the currency. In my view a third-party would be your ISP (that wants to deep inspect your packets to see who you are transacting with), or an government. You are in control of fiat only if you are in control of your government. Not many countries are democratic. And even those who are, are often only so on paper.