Jordan Tuwiner

But Bitcoin is doomed as a payments network. . . . But if I had to put money on it? I’d say Bitcoin is doomed in the medium-term future.

Bitcoin’s collapse comes as governments around the world consider regulating or prohibiting the virtual currency to prevent criminals from using it to trade contraband. . . . Ripple has gained 36 percent this year; eventually it could displace bitcoin, Reinelt said.

And so the whole bitcoin system eventually becomes a house of cards, and anything – a scandal, a government attack, whatever – could trigger a loss of confidence leading to a run that brings it all down. . . . There will be a stampede for the exit, the price of bitcoin will drop to its intrinsic value – zero – and the system will collapse. The only question is when.

Bitcoin is not [the future]. It is a step along the way and will eventually disintegrate. . . . As a currency [Bitcoin] is almost negligible against anything. It can’t stand toe-to-toe with the Cuban Peso. . . . With Bitcoin the pretend currency, what you see is not what you get.

With only about 13 million Bitcoins in circulation and the final number capped at 21 million, the supply is too limited for them to serve as a viable currency. . . . There will always be a place for Bitcoin and its ilk somewhere in the bowels of the Internet, but the cryptocurrency will never challenge the dollar as a medium of exchange.

We need to consider the distinct possibility that Bitcoin is dying. A star gone supernova. Something will be there for a while, but it will never be what it could have been. . . . The big players didn’t get in, and now they won’t. Nobody wants to bet on a loser, which Bitcoin has been over the past few months, unequivocally.

We’re going to stick our neck out at this stage and call this the end of Bitcoin. . . . We’re sure we may still see a few deep pocketed VCs or “believers” throw more money at defending the dream, but chances are we’ve now gone through the exponential break point. Time and money would probably be better spent trying to pump up Bitcoin V.2.

Unfortunately, bitcoin is doomed to fail, it appears as though Bitcoin is not as secure as once thought. Just a few weeks ago, it was announced that Mt. Gox, once one of the largest global Bitcoin exchanges, went bankrupt.

In general, [Gina] Sanchez sees no reason for investors to trade their dollars for Bitcoin. “Bitcoin as a currency doesn’t make any sense,” she says.

This combination of encryption, mining, and decentralized verification makes Bitcoin potentially powerful and difficult to control, but governments do have tools at their disposal that could make it all but impossible for Bitcoin to become widely adopted. . . . And so Bitcoin may very well die.