2012-05-17 memeburn.com - The dramatic fall of Bitcoin: No end in sight

[julz]

The dramatic fall of Bitcoin: No end in sight

Rowan Puttergill
2012-05-17

http://memeburn.com/2012/05/the-dramatic-fall-of-bitcoin-no-end-in-sight/

...

Proponents of the online currency claim that there is no fault with the currency itself. In principle, they’re right, each of these attacks seem to have been simple theft operations.

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While BitCoin proponents fight hard against any critique of the economic viability of the currency (see comments), some more serious technical challenges are slowly emerging that may not bode well for BitCoin’s long-term survival.

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As researchers spend more time investigating the currency, BitCoin’s future (at least from a technical standpoint) becomes increasingly uncertain.

[herzmeister]

The dramatic fall of Goldcoin: No end in sight

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Proponents of the noble metal claim that there is no fault with the metal itself. In principle, they're right, each of these robberies seem to have been simple theft operations.

...

While GoldCoin proponents fight hard against any critique of the economic viability of the metal, some more serious technological challenges are slowly emerging that may not bode well for GoldCoin's long-term survival.

Recently, an article was published in a newspaper, showing a 'tungsten adulteration' attack that could be achieved using GoldCoin.

[julz]

Recently, an article was published in a newspaper, showing a 'tungsten adulteration' attack that could be achieved using GoldCoin.

Yeah.. it's cheap and easy to tell your bitcoin is bitcoin, but not so easy to be sure that your gold is gold!


It seems so many journalists are desperate to put on record their prediction of bitcoin's demise.

Out of fear of 'egg on their face' - they're fearful to be seen to be optimistic about a potentially gamechanging technology.
Sad that journalists seem to put their own egos ahead of unbiased reporting.

They should mention pitfalls and concerns - sure... but many go beyond that into naysaying and negative spin.

[zby]

The dramatic fall of Goldcoin: No end in sight

...

Proponents of the noble metal claim that there is no fault with the metal itself. In principle, they're right, each of these robberies seem to have been simple theft operations.

...

While GoldCoin proponents fight hard against any critique of the economic viability of the metal, some more serious technological challenges are slowly emerging that may not bode well for GoldCoin's long-term survival.

Recently, an article was published in a newspaper, showing a 'tungsten adulteration' attack that could be achieved using GoldCoin.

I don't quite understand inserting this kind of polemics here.

[rjk]

I'm pissed at the commenters for being nothing more than fanboys that aren't going to address his misconceptions, and instead say stupid shit like "FUD" and "Corrupt journalist". Get a grip, guys, and post some actual information.

[Technomage]

I'm pissed at the commenters for being nothing more than fanboys that aren't going to address his misconceptions, and instead say stupid shit like "FUD" and "Corrupt journalist". Get a grip, guys, and post some actual information.

+1