Ray Dillinger says Bitcoin is a disaster

[Dan]

On Dec 28, Ray Dillinger wrote [Cryptography] Bitcoin is a disaster. If you don't know Ray, he is a very early contributors to Bitcoin namely through reviewing Satoshis whitepaper and bitcoin code (with Hal Finney).

Link here - https://www.metzdowd.com/pipermail/crypt...36510.html

Gist of what he says is

So, Bitcoin was a good effort, it deployed some new ideas and
technology, and showed that at some scale the "block chain" idea
worked, but ultimately, although a successful proof of concept, failed
to deliver.  It doesn't scale, except by becoming the very thing it was
supposed to replace.

The more scalable the network becomes, the more centralized it becomes,
until ultimately a "scalable" cryptocurrency would be doing things
exactly the same way as a credit card processor.

Bear

What do you think about this?Kind Regards R

[Studio]

I have similar thoughts, it is becoming a system that resembles a centralized entity.Kind Regards R