A rather dumb title, however I have question that I cant get a grip on related to bitcoin:
- If the amount of bitcoin is supposed to have an upper limit, what is the incentive to mine in the future if that limit is reached?
- If one entity controls more than 50% of the network then the protocol will break down, doesn't the continuous rise in difficulty destine that only one ASIC miner will be left?
- Who is it that sets that difficulty level and why then is it called decentral?
- To participate you need the complete blockchain stored locally. How is this supposed to scale when data to store is growing exponentially?
I seems that the system is built to only day just vanish.