I never got bitcoin.
Not surprising that it failed. It was backed by nothing.
In August, Hearn and Andresen released a rival version of the current software, called Bitcoin XT, which would increase the block size to 8 megabytes, allowing up to 24 transactions to be processed every second. While that is still a fraction of the 20,000 or so that Visa can process, it would increase every year, so that bitcoin could continue to grow.Sounds like doom from the start.
But the new software has not been adopted by the "mining" computers that secure the network, the majority of which are in China, according to Hearn. ...
He announces it’s failed then says he’s going to sell what he has. That’s brilliant!
“”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,” he wrote. “
Same thing that happened to craigslist.