[2014-12-28] BS: Geek's gold - Bitcoin's defects will hasten its demise in 2015

[polynesia]

Geek's gold
Bitcoin's defects will hasten its demise in 2015

http://www.business-standard.com/article/opinion/geek-s-gold-114122800735_1.html

Bitcoin's defects will hasten its demise in 2015. The leading crypto-currency's economies of scale in mining and its transaction system's vulnerability to subversion by a dominant miner make it unsound. As seignorage declines it will become cost-uncompetitive for transactions. These flaws will cause its price to lose further altitude.