Cryptocurrencies are unlikely to enjoy lasting success as illustrated by bitcoin's dramatic rise and subsequent crash. The cryptocurrency market is still in its infancy, but it has already attracted a lot of attention. A decade after cryptocurrencies emerged, they remain an unlikely option for purchases, with a majority of vendors and companies refusing to accept them as legal tender. Concerns over fraud along with bitcoin's design, whereby only 21 million coins will ever be created, makes its longevity unlikely. Nicholas Weaver from the University of California, Berkeley, said cryptocurrencies will never reach mass adoption.
Cryptocurrencies are unlikely to enjoy lasting success as illustrated by bitcoin's dramatic rise and subsequent crash. The Chicago Board Options Exchange is to stop bitcoin futures and miner Bitmain has postponed an initial public offering. A decade after cryptocurrencies emerged, they remain an unlikely option for purchases, with a majority of vendors and companies refusing to accept them as legal tender. Concerns over fraud along with bitcoin's design, whereby only 21 million coins will ever be created, makes its longevity unlikely. Nicholas Weaver from the University of California, Berkeley, said cryptocurrencies will never reach mass adoption.