Is Bitcoin the future?

Since its inception since 2008, the world has looked at Bitcoin with cautious fascination. In 2013 Bitcoin started to generate interest as investors and buyers explored the possibility of Bitcoin emerging as the predominant international currency. The bursting of the Bitcoin bubble several years later did much to dampen its outlook but is Bitcoin the future of money?

Yes, Bitcoin is the future

The decentralized and incorruptible nature of Bitcoin offers it an advantage over conventional fiat currencies that will eventually see it emerge as the predominant international currency.

Bitcoin is immune to corruption

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

The argument for Bitcoin through Metcalf’s law

Metcalf's law dictates that a network's value depends on the volume of users.

Bitcoin is more divisible than fiat currencies

Bitcoin can be separated into smaller increments than many fiat currencies.

Bitcoin is more transportable

Bitcoin can be more easily transported across international borders than other currencies.

The coding system behind Bitcoin makes it impossible to counterfeit

The block chain technology Bitcoin runs on includes protections that make it so that the cryptocurrency cannot be counterfeited. If someone attempts to use Bitcoin more than once, the system will block it.

No, Bitcoin isn't the future

Bitcoin lacks many of the characteristics necessary for a currency to function. It holds no inherent value, offers no stability as a savings tool, and has no liquidity for use as a purchasing vehicle.

Bitcoin has no intrinsic value

Without the backing of a central bank, Bitcoin has no intrinsic value and could theoretically be worth $0.

Bitcoin isn’t a currency

Bitcoin doesn't meet any of the basic criteria of a currency.

Bitcoin will be replaced by new technology

In the fast-paced world of cryptocurrency and financial technology, it is only a matter of time before Bitcoin becomes obsolete.
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This page was last edited on Sunday, 15 Mar 2020 at 18:48 UTC