# Professor David Yermack comments on the problems currently facing the Bitcoin market

1 Faculty News March 3, 2016 ![Fortune logo](/sites/default/files/styles/246w/public/assets/images/con_031172.jpg?itok=61CxYB-R)>

Excerpt from [Fortune](http://fortune.com/2016/03/03/this-could-kill-the-worlds-most-popular-cryptocurrency/) -- "Bitcoin has gained attention from prominent economists and venture capitalists because it is the first platform that offers a global currency with a democratic process. 'We usually delegate this type of thing to experts—the Federal Reserve and so forth,' said [Yermack](http://www.stern.nyu.edu/faculty/bio/david-yermack). With Bitcoin, 'anyone can be an expert. This decentralized nature of the currency was part of its appeal.' The 'irony,' as Yermack says, is that this popular democratic process is leading to current problems."

[Read more](http://fortune.com/2016/03/03/this-could-kill-the-worlds-most-popular-cryptocurrency/)

Additional coverage appeared on [Cryptocoins News](https://www.cryptocoinsnews.com/transaction-bottleneck-kill-bitcoin-nyu-academic-warns/).