Failed at what?
Discussion
Failed to be the people money outside of the system, it's controlled now and will be even worse you know it's obvious, If you want a miner, KYC, if you want pool mining, KYC, good luck with solo mining, you against big companies funded by BlackRock & co (for sure they will comply BlackRock ESG and Federal laws) You want Bitcoin, KYC and then it's traced, people go to Bitcoin for money now, (just few are for freedom), these people will run to CBDC... probably Bitcoin failed because we the people failed after all, maybe there is a little hope but think it's over, Bitcoin will be regulated as hell, on the development side with Blockstream probably and it's already happening on the mining side, it's the network itself, red flag. At some point, they will eventually decide to fork it, something like a "Bitcoin compliant" and "Dirty Bitcoin" and Big Money will go to the compliant Bitcoin but I don't know just a theory, anyway the future seems very risky. If Bitcoin was untraceable, the KYC is useless but it's traceable so "bitcoiners" are fucked or will probably be in the time to come, I really want to be wrong but Monero is maybe the last hope we have. It's like Batman, he is not who we want but who we need 🦇
The compliance will be about a blacklist or even worse a whitelist, there is already an OFAC blacklist
If you thought there won’t be attempts to control it you were naiv. Of course they will try, and they are, but to say “Bitcoin has failed” is very premature.
Bitcoin is not even close to have failed.
I agree that KYC mining pools are steps in the wrong direction, but as of right now I can’t see that this fight is over. It’s just getting started.
Of course they are trying to destroy Monero, delisting, making it illegal, flooding the network actually and it will continue in the war direction, but their KYC shit is useless and that's a big deal, it's really anonymous, we don't know the sender, the amount and the receiver. Fuck them we have something working as intended, a private digital cash, no need of layer 2,3,4,5,6,7,8,9... It's just working "out of the box" and the DarkNet know it, more of that, easy to use, Monero is ASIC resistant too, no mining centralization, no big companies with mining farms, it's you and me, because this is working like it was in Bitcoin's early days. Maybe Monero will succeed where Bitcoin failed. Let be the history.
For Bitcoin, I don't see how it's possible to reverse the situation, how taking back the control of the mining? It's pretty like in Ethereum, 40℅ of the validators are censoring withe OFAC blacklist and it's impossible to change this, Ethereum is a foundation, one day the Government will eventually force them to do even worse, not beeing anonymous is so risky and Satoshi knew it of course
Bitcoin, Monero or anything else, all of us need to go in the good direction, more privacy and self control, I hope Bitcoin will go that way, I hope Monero will survive, I hope more decentralized social network like nostr with anonymity, more communication systems like Signal, Session, more anonymous VPN 🔐