Crypto Blog detail

4
Sep

Cryptos and why we should accept them

Whether the Bitcoin has the potential to become an official currency may be debateable, one could conclude that its a disruptive phenomenon to the existing mode of operation. The financial sector, lawmakers and existing payment providers are all struggling how to handle this change and keep their business normalized. Most unable to move from their existing frameworks of control. As with any innovation, things will change, and it is and will continue to do so. To those in such situation I would like to say: Get ready otherwise get left behind. Our young generation is growing up with Bitcoin and altcoins as a normal day to day option.

Stateless money

The Bitcoin revolution has enabled you to operate without centralized control, this has downsides e.g. silkroad and one would hope this would not exist, but criminals are criminals, nothing to be surprised about. Consumers are able to perform financial operations which are verifyable, fast, cheap and cross country with the benefits of connected distributed application technology. There is no bank that can offer the same value proposition. Coin Exchanges have started, whereby others have left (e.g. the drama called Mt.Gox), as within boundaries of any free market. Companies and people that are accepting Bitcoins continue to do so and the trust increase is refusing to stop dispite world news regarding Mt.Gox and bans from Russia and China.

Free market reflections

Libertarians like Ron Paul fully support the Bitcoin developments, to some Bitcoin is a natural evolution after all that happened on the main stage of the world of the last 15 years. Unfortunately Bitcoin cannot be seen as entirely politically independant, it dislikes control and it represents freedom and self-determination regarding personal finance. Bitcoin represents the free market in its purest form, deal with that.

Bitcoin wild west

Free market and Bitcoin shows its true face, but no different from any other currency. Its value history has been a rollercoaster but will stabilize as market capitalization grows, the market is sorting itself out. To business people would like to advise to make use of the benefits of Bitcoin before its too late and market penetration becomes very difficult and risky.

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