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Maybe. Or maybe instead of simply making it illegal, they are just going to overwhelm it with attacks from all quarters including technological ones.
All your bitcons belong to us!
Wonder how many NSA agents are involved. Don’t want to step on the toes of the fed monopoly, or allow the chinese to move cash out of their corrupt communist banking system, now would we?
NSA ATTACK!
Those darn ‘bots’ gummin’ up the works again. We are DOOMED!!!!
A made up currency invented by a hacker experiences software problems/ security issues. Who would have thought?
Currencies can shrug off a lot of problems, including rumors and volatility. One problem they can’t finesse is currency holders not having access to their funds.
Bitcoin is toast. What? You thought they were going to let it survive? As a former Prosecutor most people truly have NO idea how powerful even a state government is.
The Fed can manipulate the gold market, which is orders of magnitude larger than the Bitcoin market. It can crush Bitcoin with little effort. Couple this with some cyber-warfare technology, and it costs very little.
That’s the fatal flaw in Bitcoin. Governments reserve the authority to create money out of nothing (aka, counterfeiting) to themselves, and can no more tolerate competition from alternative currency systems than they can counterfeiters.
Cui bono?
I pretty sure I can make back my Bitcoin losses with my Nigerian investments.
Your Gov’t dollars at work, like all Gov’t projects, it will fail, the smartest people are not in Gov’t.
My confidence is not shaken, this is a good thing and will only strengthen the Bitcoin system over time.
There is a world wide economic war going, my money is on the governed.
This just makes Bitcoin stronger. Bitcoin will out perform any financial instrument known to man in 2014.
My miners are bangin’ on all cylinders!
This may actually be a good thing... It will be interesting to see how it weathers this storm and if it results in some security hardening. I’m sure it won’t be the last attack and the infrastructure needs to be tested to prove itself.
Who couldn't see this coming?
...and so the bleeding obvious weakness of online currencies rears its ugly head.
5.56mm