This is a mistake.
For bitcoin is not a currency; it is not money—it is a speculative hedge, an investment, a form of trading, and, quite possibly, the great white whale of finance.
Possibly—but only possibly.
The temptation to talk about bitcoin as the sole product of its inventor’s brilliance has grown during the crypto bubble because, as we know from the history of equity markets and from history as a whole, perception is all. And with a product as new as bitcoin, the halo effect is just enormous.
People talk about bitcoin because they can. After all, even if it has a host of technical limitations and flaws, it is not as boring as the existing consumer-facing products from the payment sector. And bitcoin is not as easy to move money as, say, the ability to convert cash to gold or fiat currency (the dollar, yen, pound, euro). But it’s a hedge, or an investment, or a speculative play, or a currency trading instrument, and those are all ways of getting one to your place of business, or to the point of travel, or to a lender. And, hence, it’s all there in one place, in crypto.
And, especially as I indicated here, it is far easier to talk about bitcoin than to talk about gold, and perhaps even to get people to look at fiat currencies. In that sense, bitcoin is both a new form of money and a solution to the demand for money among an otherwise invisible set of people.
Although bitcoin is a speculative play, I also think its rise tells us something very much larger about how our financial systems work—even if we haven’t come to terms with those larger forces.
Bitcoin is hardly the first effort to create some sort of secure virtual currency that was supposed to replace the US dollar, or a basket of other currencies, or whatever. But here is my problem: I don’t understand how money is supposed to be created. The same people who worry about the lack of transparency in many virtual currencies are of the same people who do not fully understand how accounting works, yet they throw around nearly impossible-to-review theories as if they were all knowable as gospel.
https://www.truepnl.com/First of all - BTC is not so simple as you see it at first glance. In my opinion your understanding of Bitcoin is a little superficial. In case to consider it like the asset only, so you may be right. But BTC is not an asset) But it is my thinking. And something tells me that this link as something like the hidden advertising. So how is it connected with your topic about Bitcoin? Can you explain?
And that's the whole point of bitcoin. Freedom and sovereignty with your money.
