The price of Bitcoin has taken a nosedive, dropping in value more than 16 percent in one day, according to the Coindesk Bitcoin Price Index. At its lowest Saturday, one bitcoin was worth $355.72. The fall below $400 marks a difficult beginning to 2016 for the cryptocurrency, which earlier this week saw longtime advocate Mike Hearn withdraw his support.Hearn, a former Google employee and Bitcoin developer, said in a blog post that the Bitcoin “experiment” had failed. He cited capacity problems with the Bitcoin network, “rampant censorship” by some users, as well as “wildly unpredictable fees” in a list detailing why the cryptocurrency’s future looks uncertain. “The fundamentals are broken and whatever happens to the price in the short term, the long term trend should prob
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