I've been told from various people on this sub about the company called Coinstream, essentially owning the BTC protocol. Yet, all I see are more and more people joining the Bitcoin bandwagon now, mainstream people, people I follow for news are more and more opening up to the idea of Bitcoin.
None of them mention Coinstream. Most talk about the positive effects that Bitcoin could have, as if it was 2010 all over again. All of them talk about the potential, the potential of Blockchain, and so on, and it's all great, but nobody mentions this very important thing that is Coinstream, essentially running the entire protocol.
So all these people are positively talking about Bitcoin like some democratized currency as if we're in 2010 all over again but none of them mention this very major flaw.
One major proponent in particular is RealVision, who recently got on the Bitcoin-hype wagon and more specifically Raoul Pal. Clip after clip after clip, Bitcoin this, 50X that, and it's all great and I understand it. Bitcoin does/did have potential, but why aren't they talking about this massive flaw that basically created Bitcoin Cash and all these other forks. Is it just ignorance? Isn't it a huge thing to be ignorant of?
Who shills Bitcoin as a democratized, decentralized currency when it is at the hands of a massive company? This isn't the case with any other currency. Even the US Dollar has more democracy than this currency if what is the case about Coinstream is true.
So which is it? Am I just blowing Coinstream out of proportion and are these people right about Bitcoin? Or are they just ignorant? I'm subscribed to several trading-channels and all of them, when speaking about Bitcoin, don't even mention Coinstream, which is a big fucking deal. Why is this?
I don't attribute nefarious intent to these people. Raoul Pal's a great person, hard to reach so I can't ask him, but there are others, too. Bill Tai among others. Surely all these people can't be this ignorant to blindly believe something has this much potential when the fact that it's owned by a single company's out in the open? All it'd take would be a quick Google to shatter their optimism? Yet Raoul's invested like 25% of his portfolio in Bitcoin
Anyone know why this is the case? Love to know if we're not just blowing Coinstream out of proportion or if I've just misunderstood things?
They talk about BTC as a store of value, but even as a store of value it's void when one single company runs the currency? It's at their mercy?