The price of bitcoin has fallen almost $50 in the last 24 hours, dropping below $400 for the first time this year. The crash coincides with claims from prominent bitcoin developer Mike Hearn that the crypto-currency has failed as an experiment.
Hearn made the comments in aMedium blogpost on Thursday, January 14, announcing that he has sold all of his Bitcoins and will no longer take part in bitcoin development. Following the post, the bitcoin price fell from $430 to $385, according to theCoinDesk price index. The price at the time of publication remains below $400 at $391.
“From the start, I’ve always said the same thing: bitcoin is an experiment and like all experiments, it can fail,” Hearn said. “But despite knowing that bitcoin could fail all along, the now inescapable conclusion that it has failed still saddens me greatly. The fundamentals are broken and whatever happens to the price in the short term, the long term tr
No comments:
Post a Comment