The Bitcoin death that never happened.
Monday, December 12 was supposed to be doomsday for the cryptocurrency bitcoin, according to a recently deleted Linkedin story. When the article was published, its author made sure it was seen across various social media platforms such as Reddit.
The report classified Bitcoin as a “tulip” craze and stated that it was a “fundamentally flawed virtual currency.” According to the author a series of “global automated tests” were set to spam the Bitcoin network and show the world the digital asset “cannot be used as a store of wealth.”
“It’s time for it to make way for a better designed, more compliant, and more secure system as a global digital currency,” explaine creators of Forcecoin.
Just as the supposed fall expected for December 12 never materialized, the URL of the team’s website URL also was an unclaimed domain according to Godaddy. Furthermore, the article in question was deleted but saved via archive.is.
Theauthor was either purposely hoaxing the Bitcoin community or didn’t understand the protocol at all. For instance, the article invited hackers from all around the world to steal the Forcecoin code similar to when the Mt Gox code was leaked. Yet this past exchange code leak had nothing to do with the Bitcoin network itself and is a meaningless argument.
Most cryptocurrency enthusiasts easily dismiss these headlines of bitcoin bursting at the seams. The Linkedin post/hoax was no different as even if it was true, the points made were quite illogical. However mainstream media and those who don’t know much about bitcoin can easily be swayed by such headlines.
Bitcoin’s digital asset has died 117 times, according to reports from many media outlets. Linkedin’s article entitled “Bitcoin is a bubble will explode on Monday December 12, 2016” is now recorded as the last bitcoin death. Other over-exaggerated bitcoin deaths come from such publications as Bloomberg, Newsweek, the Wall Street Journal, among others.
The alleged team behind Forcecoin does not seem to exist, and on December 12 the burst of the bubble or stress test never came. In fact, it rose to a high of 779 dollars surpassing the price of this year and the highest value that bitcoin has had in three years.
Disclaimer: The views expressed in this article are those of the author and do not necessarily represent infocoin views and should not be attributed to Infocoin.