Bitcoin is a stable system full of value and potential. The digital currency suffers from price fluctuations, but they happen because of external events not internal design flaws. The currency is well designed and strong enough to survive any attack. Cointelegraph looks at five reasons why Bitcoin is here to stay.
The Silk Road, the sudden collapse of Mt.Gox, IRS guidance and official statements on Bitcoin from authorities in different countries have all had an impact on the Bitcoin market, but as the asset is strongly bound to technology, mathematics often outplay economy.
It is not necessary to repeat the milestones in Bitcoin’s to understand the tendency – even the most dramatic events have limited consequences due to the dedicated support of the online society and the ability to update the technology for even better performance.
Fiat currencies cannot be updated; All faults, mistakes and disadvantages are built-in. Every capable and willing user is welcome to make the environment more attractive and reliable. Bitcoin is teamwork.
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