Bitcoin Bites Back At Davos Doubters

Bitcoin Bites Back At Davos Doubters by Matthew Allen, in Davos - swissinfo.ch

Reports of bitcoin's demise have been greatly exaggerated at Davos. At least, that’s the view from the Swiss bitcoin sector, which has shrugged off recent internal squabbling and an avalanche of criticism from both the traditional banking sector and fintech pioneers.

The digital crypto-currency has always had its doubters who fear it could provide a platform for money laundering, terrorism and a host of other unsavoury activities. But a new round of pessimism descended on bitcoin last week when high-profile Zurich-based developer Mike Hearn announced on his blog that he was quitting the project.

“The fundamentals are broken and whatever happens to the price in the short...