ldn’t deliver, as well as ones that blew up because of internal and community conflict.
TOP 5 BIGGEST FAILURES IN CRYPTOCURRENCY HISTORY
5: SPACEBIT
SpaceBIT CryptocurrencySpaceBIT is one of the most ambitious cryptocurrency projects to date. Branding themselves as “the first decentralized space company,” SpaceBIT announced its idea to the world in late 2014.
The company wanted to launch several “nano-satellites” into orbit — yes, space — to provide a globally-accessible blockchain. This blockchain would be used for both bitcoin cold storage and helping unbanked regions access financial services.
The media went wild with this announcement — Bitcoinist included. Throughout late 2014 and early 2015, the Bitcoin community followed SpaceBIT with great enthusiasm, waiting for updates about the project.
In that same time period, the team behind SpaceBIT ran the conference circuit, doing multiple presentations and building hype even further.
However, despite all the hype from the community, and all the talk from the team, SpaceBIT never revealed any kind of prototype or proof-of-concept. In fact, after the first couple months of 2015, we stopped hearing about SpaceBIT altogether.
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