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Bitcoin Revolution

by quinn rithi (2019-02-26)


The other article was written by Naette Byrnes the day after those findings hit the newswires on February 25, 2014 "Bitcoin on the Hot Seat - A major bitcoin exchange shuts down, raising questions about the cybercurrency." Are you surprised? No, me either. Bitcoin Revolution Review The second article went on to state; "Tokyo-based Mt. Gox, once one of the largest exchanges of the bitcoin cybercurrency, stopped operating Tuesday amid rumors that millions may have been stolen from the firm and rising concerns about the long-term prospects for the unregulated digital currency. Other bitcoin exchanges quickly moved to distance themselves from Mt. Gox and assert that they were still open for business. The value of the currency itself dropped sharply to just over $500 by mid-afternoon. It hit an all-time high of $1,100 in November." What do you say to that? Ouch. Does this prove that the naysayers calling it a Ponzi Scheme were right? Do they get the last laugh, or is this just an expected evolutionary process of disruption as all the kinks are worked out? Well, consider this thought experiment I had. Let's say there was hanky-panky involved, let's say someone hacked the system or stole the digital currency. Right now, digital currency flies under the radar as it is not recognized even with all the new Too Big To Fail regulations on banks, etc. How can a digital currency have value? Hard to say, how can a fancily printed piece of paper marked $20 be worth anything, it's not, but it is worth what it represents if we all agree to that and have trust in the currency. What's the difference, it's a matter of trust right?

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