Bitcoin's Biggest Shock: Losing Early Believers and Not Finding Takers

Bitcoin is a virtual monetary system which is a peer-to-peer currency with no central bank. It is based on digital tokens with no intrinsic value.

An outstanding innovation in 21st century payment, bitcoin gained popularity in the FinTech industry in its initial phase but gradually, it seems to look like the virtual currency is losing its charm.

Seeing the fluctuations and multiple security issues faced by bitcoin, the confidence level in bitcoin is diminishing among users. Here are some negative quotes from some renowned personalities from the FinTech industry:

  1. People were wasting their time with digital currencies such as bitcoin. This is my personal opinion: there will be no real, non-controlled currency in the world. There is no government that’s going to put up with it for long… There will be no currency that gets around government controls. – Jamie Dimon, CEO of JP Morgan
  2. Bitcoin will fail to di ...
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