Bitcoin Birthday Look Back

Yesterday, October 31st, was Bitcoin‘s 10th birthday.


Questions remain as to whether it has fulfilled its intended mission of replacing fiat currencies.

While some in business thought it had an inevitable path to legitimacy, history has shown that early adopters like Dell have dropped it as being too unwieldy to be used in the place of old fashioned credit cards.

Price swings, the cost of exchange and thefts have pushed some investors to the sidelines leaving the playing field open for speculators.

Even one of the founders has called it a “failed experiment.” And it still is near impossible to value, leaving many to to believe that it’s just a game of musical chairs.

Although Bitcoin may be the first, it may not be the one that survives as there are reportedly more than 200 other “alt-coins” vying for shelf space in the digital ether.

About JeffKoeppel

I am a corporate/securities attorney in the Washington, DC area. Prior to joining the firm, I was a Senior Attorney Advisor in the Division of Corporation Finance at the U.S. Securities and Exchange Commission. I am a member of the Bars of the States of Maryland, New York and the District of Columbia. You can also follow this blog on LinkedIn at:
This entry was posted in accredited investor, balance, Banking, Banks, CFTC, checkbook, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, Funding Portals, Investments, Jobs, Legislative Intent, SEC, technology, VC, Venture Capital, Wall Street and tagged , , , , , , , , , , , , . Bookmark the permalink.

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