02-25-2014, 05:29 PM
From what I can gather, it isn't the Bitcoin currency itself that is coming apart, it is the infrastructure used by the different exchanges to collect and disseminate the currency. In other words, the money works fine, but the lock on the vault is broken. In a sense, the interesting thing about bitcoin is it forces one to think about currency differently. Why do we value little green pieces of paper? They only hold value because we all collectively agree that they have a value. If we lose faith in that universal value, then its utility as currency disappears and it becomes just a piece of paper. Currently, BitCoin is suffering a similar crisis of value.