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Title : Mit Comes Upwards Alongside Iii Ways To Destroy Bitcoin
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Mit Comes Upwards Alongside Iii Ways To Destroy Bitcoin

Molly Jane Zuckerman reports:

The MIT Technology Review has published an article today, Apr 24, called “Let’s Destroy Bitcoin,” detailing 3 ways that the cryptocurrency could survive “brought down.”

The starting fourth dimension option, according to the article, is a regime takeover of Bitcoin alongside the creation of a Federal Reserve-backed money (Fedcoin)...

Option 2 is a Facebook stealth takeover of Bitcoin, which involves the social media site creating a BTC wallet for all of its users, rewarding them inwards the cryptocurrency for interacting alongside ads, as well as giving them an ad-free sense if they allow Facebook mine on their computer’s unused ability (as Salon offered before this year):

“If Facebook could persuade a large plenty fraction of Bitcoin users as well as miners to run its ain proprietary version of the Bitcoin software, the fellowship would thereafter command the rules. It could hence refashion Bitcoin every 2d a corporate version of the Fedcoin described above."...

The tertiary agency of making Bitcoin “irrelevant” is the creation of multiple novel cryptocurrencies for every situation:

“You’re inwards the checkout job at the grocery store. Inside your phone’s digital wallet you lot notice non exclusively Fedcoin as well as FacebookCoin but besides AppleCash, ToyotaCash, as well as a money specific to the shop you’re standing in. There’s besides a money redeemable for babysitting services, as well as or hence other that gets you lot rides on your local subway system.”

This option, according to MIT Technology Review, is “already happening,” every 2d companies are creating their ain coins or tokens to survive used simply for their services, similar Kodak’s ICO to shape a currency used to license photographs.

Read the sum storey here.

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