John Dwyer, Fintech Analyst at Celent, takes us in granular detail through the bear case on Bitcoin, after a thorough investigation of the paradoxes and structural weaknesses led him to move away from advocacy of the cryptocurrency. John discusses individual challenges such as the 51% attack and devalued mining incentives, and expands to discuss the irony of a centralized controlled mining network, the central flaw in the Bitcoin incentive scheme, and the alternatives to Bitcoin that are addressing these issues.