Strictly speaking, a currency didn’t fail. A single exchange/bank did.
Yep. This is how a monetary system should work. If an exchange mismanages money it fails and dies. It doesn’t get propped back up with tax payer money.
RE: Strictly speaking, a currency didn’t fail. A single exchange/bank did.
According to the article, A 2013 study found some 45 percent of all Bitcoin exchanges closed, taking their depositors money with them.
Bitcoin is the future, a simple glitch in the system notwithstanding. When everyone has a cybercurrency wallet, retailers will be forced to accept them. The so-called “money” that is being use NOW only has value because people believe it does... And it gets devalued DAILY by the Fed. I’ll take my chances with bitcoin.