MIT or Massachusetts Institute of Technology just recently came up with 3 ways to destroy Bitcoin. Just today, they published an article highlighting 3 different ways to make Bitcoin irrelevant and worthless.
**#1. **The First way they said they can destroy Bitcoin is by a government making a Federal-Reserved coin called "FedCoin."Here is MIT's exact words:
“The year is two-thousand-something-big, and it’s the day your taxes are due. But you don’t file them. Instead an algorithm automatically makes a withdrawal from your electronic wallet, in a currency called Fedcoin.”
#2. The second option is to have Facebook take over Bitcoin through rewarding people with cryptocurrency and putting it in their Bitcoin wallet for interacting with ads:
“If Facebook could persuade a large enough fraction of Bitcoin users and miners to run its own proprietary version of the Bitcoin software, the company would thereafter control the rules. It could then refashion Bitcoin as a corporate version of the Fedcoin described above.”
#3. The third way is by making a cryptocurrency for every single real world situation. As some of you know Bitcoin purpose is very simple and by making a cryptocurrency for everything, people will find more use in those instead of Bitcoin.
“You’re in the checkout line at the grocery store. Inside your phone’s digital wallet you find not only Fedcoin and FacebookCoin but also AppleCash, ToyotaCash, and a coin specific to the store you’re standing in. There’s also a coin redeemable for babysitting services, and another that gets you rides on your local subway system.”
Personally, I am a cryptocurrency fan so I don't like the idea. Please comment your thoughts too!