Fundamental flaws in the Bitcoin has been revealed by computer science researchers at Cornell University, that is so bad, it could kill Bitcoin dead.
Bitcoins are made by mining, and people are no more interested in mining those. They buy them or take them as payment. But some people are in the business of mining coins with special bitcoin-mining computers.
Emin Gun Sirer and Ittay Eyal, of Cornell Computer have found the problem in mining the bitcoins. They write:
… the problem is intrinsic to the entire way Bitcoin works … a minority group of miners can obtain revenues in excess of their fair share, and grow in number until they reach a majority. When this point is reached, the Bitcoin … the currency .. is no longer decentralized; the controlling entity can determine who participates in mining and which transactions are committed, and can even roll back transactions at will.