The Year of the Rooster Review

Decentralization bitcoin's Achilles' heel

Many governments, including China's, announced stricter supervision over the virtual currency bitcoin. Our journalist commented:

Decentralization, a big selling point of bitcoin, could be the Achilles' heel of the crypto currency. On the one hand, lax supervision and unclear definition may subject bitcoin to graver risks when transaction security is compromised. On the other hand, the digital currency is far from being irreplaceable, and faces increasing challenges from potent rivals like bitcoin cash.

While only a few retailers accept bitcoins, hackers have been rather keen to exploit the crypto currency for blackmailing.