Last updated on July 26th, 2016 at 02:52 pm
A while ago we talked about how Bitcoin could be a bubble about to pop and we even listed some arguments that could prove this theory. However, this time, we want to list the arguments on the contrary side, the ones that say that Bitcoin is not a bubble. After all the ups and downs that affected crytocurrency lately, it’s time to enumerate some of the reasons that make digital currency great.
First of all, unlike what everybody says, Bitcoin is not free! It’s a decentralized and open source cryptocurrency based on a peer-to-peer network. Bitcoin miners earn their coins because they work for it, they don’t get them just because. Besides, anonymity is a choice provided in Bitcoin transactions, not a mandatory definition. Want any bigger proof than this one?
The foundation of Bitcoin is laid on computer resources that can always be tracked thanks to a digital signature and block chains that link the coins to each others. So, how can some people say that the permanent anonymity of the currency is guilty of dirty transactions connected to the crime world? The answer is simple: they can’t, because one thing doesn’t necessary leads to another.
Then, there’s no one making money just by issuing Bitcoin. Sure, some exchange platforms and services charge fees, but that’s not the same. This feature, alongside with the fact that Bitcoin is recognised by the United States Financial Crimes Enforcement Network (FinCEN), gives everybody the assurance that this cryptocurrency’s value cannot be manipulated by a government or an individual.
So, Bitcoin is not a game and surely not a bubble, at least for now. We’d rather see it like an equal opportunity for everybody. Some people might not like it and we know that Bitcoin still has a long way to go in the fields of regulations and law, but the most important thing for now is that our cryptocurrency has conquered the trust of millions of users. And that is not going to waste any time soon.