Post
Topic
Board Economics
Re: Is bitcoin dead?
by
innocent93
on 17/03/2015, 03:00:29 UTC
Simple answer: NO, or not yet
The year 2015 has been very rough for bitcoins. From a price of $314 per coin on New Year’s Day it slumped 43 per cent to a low of $177.
Mt. Gox, the world's largest bitcoin exchange, suddenly announced that hundreds of millions of dollars worth of bitcoins were stolen last month. This isn't the only one. But I believe in the future bitcoin and other cryptocurrency will still have a prominence and potential to "rebound" back into the economy.

That's part of the problem though. These big exchanges announcing that millions of Bitcoin are stolen is not good for the concept. What person would want to adopt the currency knowing that a corporation can be taken down by hackers?

Yes, the biggest problem of all is security, hackers is everywhere in Bitcoin, personal wallets can be hacked, even the biggest exchanges could be hacked too.
If people get involved with Bitcoin, security problem can be quite costly. Why people would use a currency that can't even be safe.