28 May Can Bitcoin disappear as a whole?
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Apart from the security and privacy of your coins there are also other concerns around Bitcoin’s stability and security that deserve our attention. These risks are endemic to Bitcoin’s design and its young ecosystem, and they are often outside of our control.
While there is little we as individuals are able to do about them, understanding these risks helps us understand Bitcoin as a whole, and allows us to make better decisions about how much we can trust the network.
Its proponents advertise Bitcoin as a decentralized network that cannot be controlled by anybody. Indeed, the cryptocurrency experiment now valued at more than US$300 billion is close to impossible to shut down—even its users don’t know how to turn it off.
Some obvious things could stop Bitcoin, of course. But they often raise more complications and are themselves highly complicated.
What could an organization do to make Bitcoin worthless?
Shut down the Internet
How does one turn off the internet? Apart from…
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