bitcoin as a global medium of exchange (was Re: Interesting take on Sanjuro's Assassination Market)

[eugen@leitl.org (Eugen Leitl)]

On Tue, Nov 26, 2013 at 04:53:09PM +1000, James A. Donald wrote:

> I am, however worried that bitcoin can be dominated by a small
> group. As the total transaction volume increases, the number of
> people that are full and equal participants in recording and
> facilitating transactions must diminish.

There are scaling issues in Bitcoin which can be addressed in
a successor that is not a mere copycat with no added value.
Some of the issues might be even fixed as time passes, and
there's sufficient incentive.