Date Posted: 8/10/2016

Unlike conventional currencies controlled by banks, bitcoin "runs on a decentralized system of shared trust without any third-party verification of transactions - one reason why many people are attracted to it", writes Business Insider.  However, control of bitcoin's software has resulted in a power struggle known as the "bitcoin civil war".  Gun Sirer, interviewed by Business Insiders, commented on the problems this apparent conflict has caused: "For bitcoin to retain its value, it's important to have hope that there's good management in charge, that there are adults in charge". He did not limit this observation to bitcoin: "Is it a pipe dream to expect to be able to build a currency system that is completely decentralized and free of any control whatsoever? The short answer to that is yes, but that's not what anyone should have expected anyway".