The key flaws of Bitcoin

Bitcoin was the first cryptocurrency to be created and as with all new technologies there are some flaws to it.

These flaws can make bitcoin a dangerous investment to make for some. In this article, I’ll explore why bitcoin has flaws and why alternative cryptocurrencies may be a better fit for investment.

A trial in progress

As the first cryptocurrency, bitcoin is effectively a trial in progress. Bitcoin is an experiment that was developed on the back of a white paper rather than from a fully worked out master plan. While bitcoin can be developed and changed, the fundamental basics of bitcoin rule that certain processes must be followed. As a prototype it is yet to be seen whether these processes can last over the long term or whether flaws will occur. Some key flaws have already been demonstrated with bitcoin that we will explore here.

How money is created

Bitcoin has been designed so that new coins can be ‘mined’ at a predetermined and naturally accelerating speed….