Is Bitcoin About to Crash and Burn?

The rise of Bitcoin was swift and dramatic, and its fall just might be the same. The peer-to-peer virtual currency may be very popular, but it hasn’t been without its critics. In fact, in 2013 Paul Krugman, a Nobel Laureate in Economics, wrote in a New York Times article that “to be successful, money must be both a medium of exchange and a reasonably stable store of value. And it remains completely unclear why Bitcoin should be a stable store of value.” He made the comment because even then, Bitcoin was seeing a lot of fluctuations in value and actually fell from $1,200 to $600 in just two days. Despite its flaws, the currency system has retained its popularity, which is now its biggest problem. It turns out, Bitcoin’s software coding can’t actually handle its growth and it is an issue users spotted long ago.

Mila Pantovich

An avid traveler, Mila Pantovich splits her time between San Diego, CA and Banff, AB Canada. She has been working with JustLuxe as a writer and editor since 2012 and has been featured in several publications, including Huffington Post. Additionally, she works in marketing for a prestigious securities law firm. Follow her travels on Instagram: @MilaPantovich ...(Read More)

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