On July 24th, Jonas Schnelli, a member of bitcoin core development team, failed in online shopping and he angrily asked BitPay why his order was rejected on Twitter.
Even in the bear market of 2018, the bitcoin prices have fallen by about 85% from the peak, however, the bitcoin is still worth about US $3,000 in the market. Therefore, all the investors must be very concerned about the security of bitcoin.
So, is bitcoin safe? In other words, can hackers easily steal the bitcoin away from the wallet?
As a well-known saying goes: If you want the world to know you’re ignorant about bitcoin, the best way is to use the “tulip bubble” as a metaphor, and the second is to claim bitcoin as a “Ponzi scheme.”
Today, we’d like to talk about why bitcoin is not a “Ponzi scheme”.
The market value of bitcoin has been over US$200 billion, accounting for nearly 70% of the cryptocurrency market. According to cryptographer and trader Rhythm, the market value of bitcoin has surpassed the legal currencies in South Korea, Brazil, Canada, Mexico and Australia to become the 11th largest currency in the world.