I can only hope that most of the members of the Bitcoin community or of the larger cryptocurrency community joined the bandwagon because of these ideas. My hunch however is that more than half of the members of these large communities around the world are joining these communities for the sake of money or of profit. They seem not to care about these principles really. All they are thinking is that there is money here. All they need to do is buy and wait and the profit will be coming.
This in itself is already a big obstacle for the growth of Bitcoin and cryptocurrency.
Topic: Bitcoin: People Empowerment - page 3. (Read 420 times)
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Before the advent of cryptocurrency, all financial transactions were facilitated through the world’s central banks. Now, thanks to bitcoin, the scenario is changing, and the power is shifting from the central banks and world governments to the population. This radical change in the handling of monetary transactions can potentially change the entire world’s economic structure. To enable scrutiny and provide security, financial institutions maintain records of every transaction. Now, with cryptocurrencies, the people have a way to challenge the banks’ economic power. If it’s adopted on a global scale, Bitcoin can cause money to become highly politicized.
Taken from this source.
I personally believe that one of the big reasons why we have to be a part of the Bitcoin bandwagon is that this is a tool for people empowerment and that can means we are getting back the power that should have been in our hands long time ago. Now, I am not saying that Bitcoin is the be-all and end-all of all our problems but certainly this can be a start of something revolutionary.
No wonder then that many governments and central banks are uneasy on Bitcoin because they know the possible implications but for some governments who are not lead by myopic leaders and allowing Bitcoin those are the leaders who are recognizing that they are not there in the pedestal for the lifetime.
Aside from volatility, what are the biggest obstacles for Bitcoin to be adopted on a global scale?
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