Classic Ether’s Decline Highlights Bitcoin’s Biggest Potential Weakness

Digital currencies are still, relatively speaking, in their infancy, and as a result, the field is ever changing. New currencies, and new versions of old currencies, seemingly come and go every day. Most, admittedly, go pretty much unnoticed, known only to those with an early interest in the creation and a few who have learned to jump in to (and out of) new currencies quickly to benefit from any early surge of enthusiasm.

Ever since Satoshi Nakomoto published the Bitcoin white paper in 2008, though, the status of the original virtual currency as the leader of the pack has pretty much remained unchallenged. The recent problems of one of those challengers, however, should serve as a warning to the bitcoin community as to where the danger to that currency lays.

Back in March, I wrote here about the bitcoin “rival” that seemed to have the best chance of taking the concept of a distributed ledger (the blockchain) and putting it to a practical use that could eclipse bitcoin. That rival was Ethereum, and the currency was its associated token, Ether (ETH). (It should be pointed out, as it was in the comments on that deliberately simplistic article, that Ether

Read more ... source: TheBitcoinNews

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