CEO of Mining Company on The Future of Bitcoin
With all the challenges facing bitcoin these days, it’s no wonder that many have started to question how long the cryptocurrency might last. Some say that the future of digital currency itself could be determined by regulation while others think that the technology behind it could persist.
According to Genesis Mining CEO Marco Streng, increased bitcoin mining activity could strengthen the system itself. Genesis Mining is one of the biggest suppliers of any bitcoin firm in the world.
The Future of Bitcoin ‘What people may forget is that the higher the total mining power in the network, the less vulnerable Bitcoin is. In the early days, a private individual could possibly gain enough influence to control the Bitcoin network by a large enough investment in mining. Times have changed and it is much harder to do that now,’ explained Streng on being asked how the consolidation of bitcoin mining could affect the industry.
This post was published at NewsBTC on May 4, 2015.