Encyclopedia of Opinion
Question
Is Bitcoin the future?
Position1 of 2
Yes, Bitcoin is the future
Argument2 of 5

Bitcoin is immune to corruption

As a decentralized currency, uninfluenced by government monetary policy or central banks, Bitcoin is immune to corruption.

The argument

The blockchain technology upon which Bitcoin is based is open source, meaning it is visible to everyone and immune to manipulation. This makes Bitcoin a desirable alternative currency for those living in countries that are at risk of government corruption and currency fluctuations.

Context

Currencies that are tied to central banks are susceptible to political influence and corruption.

Premises

[P1]The blockchain technology behind Bitcoin is open source, visible to everyone, and therefore immune to manipulation. [P2] This makes Bitcoin a desirable alternative currency for people in countries at risk of government corruption and currency fluctuations. [C] Because it is immune to corruption, Bitcoin is the future.

Counter-arguments

Being immune to corruption is only desirable if it has a stable value. Bitcoin is even more prone to wild fluctuations in value than even the most unstable currencies. Therefore, it is not a viable currency alternative to those living in nations which have a high level of government corruption and currency fluctuations.

Rejecting the premises

[Rejecting P1] Central banks' backing of fiat currencies are what makes them stable. [Rejecting P4] Bitcoin may not be corruptable, but in its desire to remain incorruptible, it becomes unstable. [Rejecting P5] Therefore, Bitcoin is not the future.

Framing

Corruption is inherently a bad thing. The best currencies are those that are not susceptible to individual influence.