Is Bitcoin going to die?

There has been a recent drop with Bitcoin and I assume has something to do with one of the main developers quitting. Here is a news article that I have read about this subject.

http://fusion.net/story/255949/bitcoin-failed-says-mike-hearn/

Just google Bitcoin and look at all the Bitcoin doom articles.

 

They say it will, with so many huge financial institutions investing in blockchain technology nowadays I can see a global currency similar to bitcoin being released on a regulated level just like the USD in the coming years

 

Bitcoin kind of sucks, to be honest. If they released a much more regulated process of sending/receiving bitcoin without the anonymity, it would be much faster/more secure.

 

@Giddy,

There is plenty of speculation on both sides. I don't see it going anywhere anytime soon.

Not trying to be a dick, but you don't seem to know what you're talking about.

Bitcoin is successful BECAUSE its not regulated, and semi-anonymous. Changing that would do NOTHING for speed nor security.

 

The appeal and usefulness of bitcoin is literally the anonymity and non-regulation.

 

What? Maybe if you're buying organs or hiring a hitman.. but why do you need anonymity for runescape gold lol?

It might not speed it up or anything, but if people had "btc banks" or whatever, perhaps more people are are "interwebz-noobs" would pick up on btc.

 

For the exact same reason I don't post my name and address publicly on Sythe.

You don't need a bank, and that's the point. No one else has access to your money. You can keep it in an offline wallet, online wallet, or exchange which is kind of like a bank.

None of your criticisms make a shred of sense.

 

I've had tons of people not willing to put their debit card onto circle because they had no idea what BTC was.

The anonymity is nice, don't get me wrong. Just wish more people could learn about BTC.

Speaking of BTC dying, wtf happened to the coin price

 

Prove decline due to Mike Hearns followers being told that he's leaving the bitcoin scene and they think he's satoshi himself. Also probably has something to do with cryptsy being hacked for 13k btc (5.8m usd at the time).

 

That's just ignorance of the general public to be honest, the media has always put a bad light on bitcoin and therefore it gets negativity from people who don't actually know anything about the currency.

The anonimity is the appeal of bitcoin, and if you wish people would learn more about it, then start introducing them to bitcoin, explain how it works, if you aren't doing this, you are part of the problem.

Also, did you not read the initial post? One of the main developers quit, it had something to do with him wanting the future of bitcoin to be decided by the experts rather then the general public, the actual users of bitcoin.

 

...? I do.. I even wrote a guide on how to use BTC that's even stickied on Sythe...

And I know that he quit, Doesn't meant coin prices have to crash by $60?

 

People refer to current events when making financial decisions. The main developer quitting raises a huge red flag in many people's minds. There is always a correlation in price when major changes occur.

 

This may also be caused in part by the fact that Cryptsy announced 10k bitcoin/litecoin being stolen from them, which was sure to cause fluctuations anyways.

 

I don't think so, at least not anytime soon. As long as the value is there, it will still be used.

 

This is why I and many people don't hold btc lol it goes from $450 one week to $370 another. For people not willing to gamble with their money it's not really worth it. Unless it decides to stabilize, it won't survive.

 

It's useful and a lot of people use it, I don't think there's a chance it's going to die any sooner.

 

i don't think it'l die out, but a lot of people not in the blackhat community may stop using it just because of the instability

 

I'm not sure if it's going to die i wish it were more stable, that being said i have 23 bitcoins and i have alerts said for price drops.
I woke up this morning to making a boat load of cash off of a huge BTC rise, YAY

 

Pics?

 

i woke up and sold it, i also have no way of having a picture from last night to show before USD balance, i get the little alert on my phone and when it rang i woke up checked and was up $700 roughly and quickly sold it for a bank deposit.