What lies ahead for the future of Bitcoin and cryptocurrency?
Recent musings ...
Since ASIC mining is now coming to Scrypt, it puts most miners (many of which who have already been pushed out of bitcoin mining) out of Scrypt mining soon.
Along with steep declines in revenue from the mining pursuits, mainly due to the influx of new miners entering in the last few months, it is likely that most miners will experience difficulty breaking even on their hardware investments.
Throw in all the hacked exchanges (Mt. Gox, Coinex, Poloniex, Flexcoin, etc.), negative press, the Dorian Nakamoto Newsweek blunder, a flood of pointless pump and dump scamcoins, and negative government and central banking actions ... well let's say it's an uphill battle for legitimacy and global acceptance at the moment.
Anything that has the capacity to change the way the world works - the way business and transactions are performed - will have complications. To paint a visual, digital currency acceptance can be likened to ocean waves, battering against yesterday's bricks and mortar world.
Long term, I'm very bullish on bitcoin and altcoin ... but as it often goes, there will be a lot of casualties on the road to victory.
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