Now that the bitcoin price is up a little bit, many of you are probably wondering if I’m going to take back everything I said in yesterday’s article.
Believe me, I am very tempted to do so. After all, I’ve ridden hard on bitcoin for the last six months. It’s given me an exception writing career as I’ve mentioned in a previous article, I’ve delved in it, I’ve come to learn bundles about it and then some.
But the fact of the matter is I think I’d be jumping the gun a little if I did anything of the sort. We’ve only now witnessed an increase in price of about $5-$7, and this, in my opinion, is just not enough to get excited about. Yes, our happiness is entitled to grow by a few strains, but this news certainly isn’t worthy of worldwide celebration.
I still feel that the major problems we have witnessed with bitcoin over the last two weeks, particularly those dealing with bitcoin’s security, are far too large to just kick to the dust. Whether the price increases or not really holds no meaning when you consider the amount of attacks that occurred over just this weekend alone, and how many funds are probably still missing and in the hands of thieves. Recently, two bitcoin ATMs were stolen in Amsterdam, which means that now crime is stretching beyond the cyber world and taking on a more physical presence. People are using their “hands” rather than their intellect and knowledge to do the deed. They pick up a crowbar, and voila! The crime is done.
Things like this worry me, and I feel that they should get under everyone’s skin to a certain degree. Before we celebrate any sort of price increase, let us focus on making bitcoin safer and stronger for all. Then, once everything is fixed, we can get back to our merry-making and we can dash off the old evils of the digital currency world.