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Author Topic: [2016-01-19] The Future of Bitcoin: A Rocky Path to Currency  (Read 155 times)
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Keep Calm & Hold Your Bitcoin

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January 20, 2016, 03:50:59 AM

In November 2011, Wired magazine ran an article titled “The Rise and Fall of Bitcoin.” The article delivered a narrative account of the digital currency and its pseudonymous founder Satoshi Nakamoto. The story was written as if it encapsulated the full story of Bitcoin, from its 2008 rise to its probable 2011 demise. Four years later, the suggestion that Bitcoin had run its full course by 2011 sounds comical.

Although Bitcoin supposedly fell four years ago, the media seems not to have noticed. Since its release, Bitcoin has “died” a total of 78 times, with major news outlets continuing to announce the death of Bitcoin all the way through 2013, 2014, and 2015. Bitcoin did not die in 2011, and it is not dead today. Nevertheless, the fledgling currency has failed to thrive to the degree that many had hoped it would. Most Americans remain unfamiliar with Bitcoin in 2015, and Bitcoin adoption rates remain slow among merchants and consumers.

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