
What’s Wrong with Bitcoin? - haifeng
https://www.linkedin.com/pulse/whats-wrong-bitcoin-haifeng-li/
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mimixco
An exchange is not Bitcoin. It's well known in the crypto community that
exchanges are the weak point in security. The fact remains that the Bitcoin
blockchain itself has never been successfully hacked and no Bitcoin has ever
been stolen from the chain. That's pretty good security if you ask me.

As for governance, the OP says central oversight is necessary. This is an
opinion, not a fact. All other altcoins have some form of centralized
governance. I would argue this a root cause of their failures, not an
advantage.

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jraedisch
Imagining more and more people buying into Bitcoin in the future, there could
develop some form of global governance, e.g. because it is becoming "too big
to fail".

~~~
mimixco
No governance is necessary. That's the point of the design. It's also worth
pointing out that Bitcoin never had an ICO, the origin of so many crypto
scams.

