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 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.
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.
