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>>Sure, lots of people mock and criticize it, Bitcoin and crypto only survive because of trust. There was a time, especially on Bloomberg, when the news was co
by CodiePetersen 7y ago
>>Sure, lots of people mock and criticize it,
Bitcoin and crypto only survive because of trust. There was a time, especially on Bloomberg, when the news was constantly criticising it and sowing mistrust. "It's only used by hackers" or "hit men are murdering people for crypto on the dark web" or "terrorist are funding operations with crypto.". So there have been countless efforts to break the core of what makes a currency valuable.
Additionally, Bitcoin specifically is illegal in several countries, China being one of them. The US has also seized several piles of bitcoin and like they do with other seized assets they put it up for auction. These guys buy the stuff up cheap and immediately sell it. Now that's not a specific attack but it is damaging to prices. Lastly exchanges are requiring photo id to buy things now because of regulation which makes it even harder for people to get into. I can buy bullets and in some cases guns more easily.
So there is actually plenty, not to mention numerous attacks on the network in the early days. Who knows who was behind those.