J.P. Morgan CEO: "U.S. Gov Must Kill BitCoin, Crypto-Currenies"


Log from Blammo's picture

Bitcoin was never even intended to last by Satoshi, the pseudonymous creator.  It has always been proof-of-concept to pave the way for the next iteration of cryptocurrency, to discover the problems such a successor would need to solve.  For instance, the fixed block size has been shown to be vulnerable to a "dust DoS" attack.
When any government finally takes hostile action against Bitcoin, it will just make itself a problem to be solved.
Bitcoin is fine for experimentation in virtual currencies, but no one should be throwing all their commerce into it, as it has always been a temporary measure.  The future will include Bitcoin, Ethereum, Ripple, and alternatives that haven't even been invented yet.  The Holy Grail of cryptocurrency is one where you can issue your own notes or coupons, backed by something you have or something you can do or make, that automatically propagate through your personal trust network to the point where you can buy commodity goods with it.