Last updated on July 4th, 2013 at 07:11 pm
Who knew? According to the experts, the Americans are getting tired of dozens of years of money manipulation and are starting to see the benefits of cryptocurrency as a reliable alternative.
Apparently, the times of skepticism and criticism are definitely gone. “I think we’ve had one hundred years of what the US government can do when it gets to manipulate a currency and a lot of people are kind of tired of that and they want to experiment in a space where you can’t manipulate a currency; and I think that’s why a lot of people are interested in this space”, says Jonathan Mohan, the founder of Bitcoin NYC.
This means a lot has changed since 2009, when the first Bitcoins appeared. “I first came into the Bitcoin space, I was the only person in New York city who even heard of Bitcoin. I was laughed out of every VC firm in the city, and now fast forward two years, there are so many start ups. There are meet ups”, tells one of the founders of the Bitcoin company btcshares.com.
According to Josh Rossi, Bitcoin has become “kinda like a culture” in New York City, among other places, and it’s being embraced as a respectable alternative to traditional currencies. At least, that’s what big companies like Domino’s Pizza and the Howard Johnson’s hotel chain think, since they are already accepting cryptocurrency.
“You can finally opt out of a system that you don’t agree with. Like, Bernanke can keep printing as much money as he wants, Bitcoin users aren’t affected. We’re holding Bitcoins. It only makes our Bitcoins worth more dollars. It’s a natural hedge against inflation”, says Josh Rossi.
Although many economists are still skeptical, especially about the long-term stability of the digital currency, this is not a problem for Bitcoin fans and potential new users. The economic analyst Richard Wolff has an explanation: if people “were pleased with the monetary system, if they felt it was fair, then they wouldn’t be looking for an option like Bitcoin. So, you see already, the loss of confidence, the loss of commitment, it’s a sign of where the society is going”.
That’s mainly why the US government is not happy with Bitcoin and most of the companies who deal or accept the cryptocurrency. It looks like the dice are on the table… What will be the next move, especially of the north-American authorities? Any bets?