18 Oct '13, 3pm

Bitcoin’s road from perdition: What will hurt and help the controversial digital currency

Another Silk Road is started and governments step up regulatory efforts across borders to find illegal drug transactions. A PRISM-style program is developed to sniff out any cryptocurrency delivered digitally over any phone line or ISP, and hundreds of millions of dollars are committed to finding as many Bitcoins as possible and either seizing them or cataloguing and/or taxing them. Securities fraud takes place on a major exchange, and the price of Bitcoin is seen as being subject to manipulation by insiders (although currency gamers didn’t put the Forex out of business). A wave of phishing and viruses seeks out and steals Bitcoins from unsophisticated users (this of course happened in the early days of online services when phishers would pretend to be your bank or ISP and ask you to enter your password). The US government (or other entity with massive resources and know-h...

Full article: http://venturebeat.com/2013/10/18/bitcoins-road-from-perd...

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