Bitcoin Obituaries

What’s more interesting to me is the fatal flaw of passwords. You have to protect your Bitcoin wallet passwords at all costs. Bitcoins are like bearer bonds. If you steal them, they’re yours. The rightful owner can’t get them back. And if you lose your password, you can’t retrieve them. There are already people freaking..

Bitcoin will likely “totally collapse,” Nobel Prize-winning economist Robert Shiller has told CNBC, adding that it reminds him of “tulip mania” centuries ago in the Netherlands. The Yale University professor said there are “bubbles everywhere,” not just in bitcoin, and added that he “doesn’t know what to make of bitcoin ultimately.” “It has no value..

To really work as money, bitcoin needs to be widely used. There need to be lots of actors providing a wide array of goods and services who are all willing to take bitcoin as payment. But why would anyone use it? Contrary to the libertarian romanticism that inspired bitcoin’s creation, most Western fiat currencies work..

Bitcoin will not survive but that does not mean the entire cryptocurrency craze is dead with useful cryptos like Ripple and ethereum surpassing bitcoin, Benjamin Quinlan, chief executive officer and managing partner at Quinlan and Associates revealed. Speaking to Bloomberg, he said: “We think that various forms of cryptocurrencies will survive and will do very..

The extraordinary volatility not only make Bitcoin unsuitable to use as a currency but along with the massive surge in value has attracted considerable attention from regulators. The threat of Bitcoin and other cryptocurrencies being smothered by regulation is growing at a considerable pace. When that occurs, it will effectively remove many of the characteristics..

A cashless future is indeed on its way, and governments and central banks have no choice but to prepare for it. But a cashless future doesn’t necessarily require government-backed digital currency. And while the technology underlying Bitcoin and other such cryptocurrencies will almost certainly have many useful applications, replacing physical cash is unlikely to be one of..

There are now over 1500 cryptocurrencies newer than bitcoin. These coins are more efficient, faster, and offer features that bitcoin lacks. There is a history of first movers losing to innovative fast followers. Research shows that the first mover in a space is 6 times more likely to fail then the ventures that follow it…

Former Wells Fargo Chairman and CEO Dick Kovacevich told CNBC that he believes bitcoin is a scam. “I think it’s a pyramid scheme. It makes no sense. I’m just surprised it isn’t even lower,” he said on “Squawk on the Street.” “There’s no fraudulent thing going on. It’s just a pyramid scheme,” he said. “You’re betting..

I have been waiting for decades for someone to invent a purely digital currency, a currency for online purchases that wasn’t linked to a credit card. It was the killer app (as we used to say) that no one ever figured out. Thus when Bitcoin first emerged, I had hoped that it would be The..

While fans claim that Bitcoin is revolutionary, possessing the ability to change how currencies operate and payments are made, it is really the underlying blockchain technology that provides it with that ability. This is where the first hurdle arises for Bitcoin. It is not as scarce or finite in volume as pundits would have investors..

The expectation that the price of Bitcoins will continue to rise in the distant future has a lot to do with the belief of many people that Bitcoin, and other “cryptocurrencies”, are the money of the future. Nothing could be farther from the truth. In fact, the Bitcoin is an archaic currency like gold used..

Bitcoin changes prices too quickly to be a currency and processes transactions too slowly to be a payments system, but it is juuust right for teaching libertarians everything they don’t know about economics. If you look at what bitcoin actually does, though, it’s more like digitized nostalgia for a pre-modern past where money was discovered..