Saturday, December 2, 2017

People And Cryptocurrency

Nowadays, in many countries you can already pay in Bitcoin for various services such as air tickets, meals, etc.

It is clear that all those merchants who have not yet integrated bitcoin into their business are leaving money on the table. And even more, any business who don't use Bitcoin is staying behind while other businesses pass over.

Even independent workers (freelancers) prefer to be paid for their services in Bitcoin or in another high-valued cryptocurrency.

It is ironic to listen to bankers and other members of financial institutions calling Bitcoin and other cryptocurrencies fraud. These are the same ones that caused the last financial crisis and are now trying to advise the citizens !!!

The last to drop his verbiage has been Jordan Belfort, who also calls Bitcoin fraud. The line between morality and dishonesty is very thin.

The powerful always want to have more and monopolize all the financial opportunities for them and their selected, private group. This happens both places: the developed countries and in the third world countries.

For example: Venezuela, a region brutally sunk economically and culturally can be revitalized through Bitcoin and blockchain technology. Unfortunately this does not happen, and the government continue printing paper money without value to devalue their currency (the unfortunate Bolivar) more and more.

However, the powerful of that region use and trade with Bitcoin for personal purposes and interests, closing the opportunity to the poor citizens who can not even satisfy the basic needs.

More people will come out to discredit the power of Bitcoin by taking hold of its volatile feature, which is true, but what they do not yet understand (or perhaps do not want to understand) is that the solidity of any cryptocurrency lies in the community behind it.

And the more people use Bitcoin as a payment method or for investments (trading, etc), the value will continue to grow...  there could be corrections in the price, but predicting their death as these pseudo-experts have said, looks far from reality.

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