{"id":20032,"date":"2015-06-08T11:00:30","date_gmt":"2015-06-08T11:00:30","guid":{"rendered":"https:\/\/ktsl888.com\/?p=20032"},"modified":"2024-06-11T16:06:27","modified_gmt":"2024-06-11T16:06:27","slug":"the-rise-and-fall-of-bitcoin","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/the-rise-and-fall-of-bitcoin\/","title":{"rendered":"The Rise and Fall of Bitcoin"},"content":{"rendered":"

Will bitcoin persist or not? There have been so many instances of the crytocurrency losing its luster only to make a comeback later on. From its introduction by Satoshi Nakamoto back in 2008 to the shutdown of Silk Road and the closure of Mt. Gox<\/a>, bitcoin startups and enthusiasts have allowed the digital currency to thrive.<\/p>\n

Interestingly enough, a follower of bitcoin updates Jordan Tuwiner compiled all the negative updates on the cryptocurrency and called it the Bitcoin Obituaries, as some reports claimed the end of the currency’s existence.<\/p>\n

Bitcoin Obituaries<\/h3>\n

\u201cI wanted to collect the articles and make a monument showing Bitcoin\u2019s resilience. I knew the site would be funny, but also shows Bitcoin\u2019s strength over time,\u201d Tuwiner explained.<\/p>\n

One of his favorite obituaries<\/a> reads: \u201cBitcoins aren\u2019t secure, as both the recent theft and this password problem show. They\u2019re not liquid, nor a store of value, as the price collapse shows and if they\u2019re none of those things then they\u2019ll not be a great medium of exchange either as who would want to accept them? It\u2019s difficult to see what the currency has going for it.\u201d Since then, the value of bitcoin has surged by roughly 1,500%.<\/p>\n

\u201cThe authors have no understanding of how Bitcoin works or basic economics,\u201d Tuwiner added. \u201cTake the first sentence from the obituary above: \u2018Bitcoins aren\u2019t secure, as both the recent theft and this password problem show.\u2019 Bitcoin itself is quite possibly the most secure currency in history. You can securely store it yourself. Third party exchanges lead to theft. Not bitcoin.\u201d<\/p>\n

As of the moment, around 71 obituaries have been published on the website. Tuwiner encourages readers to send more through the site’s Submit Page. For Tuwiner, the biggest thing he’s learned from reading and compiling all the updates is that there is no reason to panic even if bitcoin goes through dark days again.<\/p>\n

Tuwiner now runs a website<\/a> that helps people find Bitcoin exchanges all across the globe.<\/p>\n","protected":false},"excerpt":{"rendered":"

Will bitcoin persist or not? There have been so many instances of the crytocurrency losing its luster only to make a comeback later on. From its introduction by Satoshi Nakamoto back in 2008 to the shutdown of Silk Road and the closure of Mt. Gox, bitcoin startups and enthusiasts have allowed the digital currency to thrive. Interestingly enough, a follower of bitcoin updates Jordan Tuwiner compiled all the negative updates on the cryptocurrency and called it the Bitcoin Obituaries, as some reports claimed the end of the currency’s existence. Bitcoin Obituaries \u201cI wanted to collect the articles and make a monument showing Bitcoin\u2019s resilience. I knew the site would be funny, but also shows Bitcoin\u2019s strength over time,\u201d Tuwiner explained. One of his favorite obituaries reads: \u201cBitcoins aren\u2019t secure, as both the recent theft and this password problem show. They\u2019re not liquid, nor a store of value, as the price collapse shows and if they\u2019re none of those things then they\u2019ll not be a great medium of exchange either as who would want to accept them? It\u2019s difficult to see what the currency has going for it.\u201d Since then, the value of bitcoin has surged by roughly 1,500%. \u201cThe authors have no understanding of how Bitcoin works or basic economics,\u201d Tuwiner added. \u201cTake the first sentence from the obituary above: \u2018Bitcoins aren\u2019t secure, as both the recent theft and this password problem show.\u2019 Bitcoin itself is quite possibly the most secure currency in history. You can securely store it yourself. Third party exchanges lead to theft. Not bitcoin.\u201d As of the moment, around 71 obituaries have been published on the website. Tuwiner encourages readers to send more through the site’s Submit Page. For Tuwiner, the biggest thing he’s learned from reading and compiling all the updates is that there is no reason to panic even if bitcoin goes through dark days again. Tuwiner now runs a website that helps people find Bitcoin exchanges all across the globe.<\/p>\n","protected":false},"author":516,"featured_media":20033,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[656,781,11],"class_list":["post-20032","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin-news","tag-bitcoin-updates","tag-news"],"acf":[],"yoast_head":"\nThe Rise and Fall of Bitcoin<\/title>\n<meta name=\"description\" content=\"Will bitcoin persist or not? 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