Quick, governments of the world. Bitcoin is a serious threat to your monopoly of the world currency system, and you need to take it down. I am certain it is on your radar, but you probably haven't decided what to do with it, yet.
Fortunately, a serious Bitcoin vulnerability has emerged that you can exploit to destroy Bitcoin. You don't even need to make a large investment in ASIC mining hardware. All you need is one programmer. Here is how to destroy Bitcoin:
Employ one programmer to release new altcoins based on the Bitcoin model. He will likely need some time to study up at first, but after awhile, he should be able to release multiple altcoin clones per day. If you want to buy a small ASIC or even a simple GPU it might help generate genesis blocks faster, but it's not necessary.
Since altcoins damage Bitcoin, all you need to do is flood the market with thousands or millions of altcoin alternatives. You will damage Bitcoin until it ceases to be viable and preserve your interests and the interests of your corporatist cronies / global conspirators / whatever.
I am picking up on the sarcasm...
Yes, for those who didn't get the memo, I'm not serious.
What I want to say, in serious and non-sarcastic terms is: altcoins don't damage Bitcoin, and you can prove this to yourself by thinking through what would happen if millions of altcoin systems were released.
Now, that doesn't prove that altcoins are fantastic and profitable. I happen to think some of them are, or may prove to be.
I enjoyed this post!
What is sad is that it is the honest mentality of a lot of Bitcoin elitists.
We SHOULD have many cryptocurrencies!
