HERE IS BITCON’S TROJAN HORSE — The core problem with Bitcoin (and all crypto-currencies) is its requirement that all nodes store all data from the initial record. As the number of records grow without bounds, so grows toward infinity the requirements for storage, processing power, bandwidth, energy. At some point, soon, only the most massive banks and governments will have the power necessary to maintain the goliath that bitcoin will have become.
At sometime around that point, what is now “decentralized” will necessarily implode back down into centralized control. By then, paper currencies will have dwindled and the world will have been hoodwinked into a Jesuit/Vatican electronic yoke.
Download of bitcoin blockchain is nearing 20 GB and increasing probably at 1MB per hour. It will not be long before the situation becomes untenable. 1MB per second is 10Mb LAN speed and hitting typical cable burst (not sustained) download rates.
What is presently “decentralized” will outgrow all home computers, business networks, network speeds, etc., ever-forcing itself into existence only under funding from large, then larger, then only the largest companies, banks, governments, but ultimately proceeding into oblivion as its sheer massivity (and expounding growth pace) outpaces and outgrows then implodes any and all (intrinsically) finite “cloud based” storage. Realize that there is no “cloud”, it’s just a fancy name for someone else’s server(s).
Of course, before that inevitable show-stopper, there will be stop-gap “Ledger Balances” introduced, to set-in-stone point-in-time balances/status of the blockchain. There will also be “parallel streams” which will be regional, then divided along lines of industry, maybe DNA/race, etc.
From these point-in-time “zero points” the world will periodically “step up to” the latest “rung of trust”. Guess who will be in-charge of keeping these ever-growing “rungs” or “balance points” ? That’s right, Not You but only “trusted repositories”. Ultimately under control of if not Vatican Bank then something similarly sinister, untouchable, aetheric.
That Satoshi Namoto (or whoever(s) is/are the creator) is a Big Perfect Secret, mysterious and unknown — well that rings and screams hallmark of the age-old trick of false flag, fabrication, trick, con. Hence, not BitCoin but BitCon. Rely upon it at the peril of everyone.