What are some things that have occurred in the BitCoin universe that the original creators might not have anticipated at release?

  • 90% of bitcoins being hoarded as investment or used for day-trading in exchanges, rather than used as currency for payments.

  • Investment funds that use bitcoin as the backing asset.

  • Extreme price volatility, which makes the coin unsuitable for use as a currency.

  • Main uses of the coin as currency being online gambling, purchase of drugs, ransomware, ponzis and other scams, and other illegal payments.

  • Concentration of mining in ~20 companies, of which ~10 have >80% of the hashpower.

  • "Full but non-mining relay nodes" sitting between simple clients and miners and presuming to act as "volunteer vigilantes" over both sides.

  • Trafic growing more than 50% per year (up to 100% per year) for 2-3 years in a row.

  • The network being congested (intentionally!) with transactions delayed by days, unpredictably.

  • Hundreds of altcoins, most mere clones or trivial variations on bitcoin, that do not seem to go away.

  • "Bitcoin banks" -- services that hold bitcoins (real or virtual) for customers, like Coinbase, Xapo, etc..

  • Numerous large thefts by exchanges and other services.

  • One company intending to decide the future of the network and dictate miners' revenue.

  • The community split in a bitter war over a totally banal maintenance patch.

/r/Bitcoin Thread