10 Once-Thriving Products Doomed to Fail
Constantly evolving technology is creating competitive new markets while simultaneously driving old products into obsolescence forever. Although still hanging in there for now, here are 10 markets that are probably doomed to fail in the near future.
Virtual currency Bitcoin has reached record high market prices, but Bloomberg warns users and enthusiasts against becoming overly excited — the U.S. government has taken notice, and that means market-crushing regulation is probably soon to come.
Although Bitcoin is accepted by popular services and businesses like Overstock.com (which earned $126,000 in Bitcoin sales on its first day accepting the currency) and OKCupid.com, the main use for Bitcoins is said to be the illegal and anonymous purchasing of drugs and weapons. Online black market Silk Road was shut down in 2013 after ties with illicit activity launched an FBI investigation that would lead to the seizure of $28.5 million in Bitcoins.
Although Bitcoins are estimated to become even more valuable in the near future, many predict that Bitcoin regulations are soon to come — a change that will negatively impact a large percentage of Bitcoin users. Anonymity, price, and ease of use will all begin to suffer in the name of stability and consumer protection, so the risk factor of using Bitcoins is high.