Thursday, 6 December 2018

Why bitcoin — by design — won’t become worthless, according to this crypto heavyweight

Bitcoin protocol is set up to be adjusted as mining conditions worsen, says teaching fellow Andreas Antonopoulos


As bitcoin flounders to its lowest level in 14 months, concerns over mining profitability have some wondering if the best-known cryptocurrency is headed for a hard landing as those solving the complicated puzzles hit the off-switch on their energy-guzzling mining equipment.

The price of a single bitcoin BTCUSD, -6.17%  has fallen 75% in 2018 and is down more than 80% from its all-time high.