a blogger's ramblings on Bitcoin

For over the last year, Wall Street has been on the verbal attack of Bitcoin. They claim it is a bubble, even as far as saying that it is worse than the tulip bubble, or Enron. "Buy gold, not Bitcoin" they say... Gold suuuuuucks.

Bitcoin being somewhat of a decentralized currency has bankers shaking. It removes bankers from the equations. As more and more people adopt Bitcoin and altcoins, bankers edge closer to losing all that they have built. Viewing Bitcoin as more of a commodity, they have tried ushering people into gold instead.

It is 2017, why buy gold? If I need to cash my gold it, I have to find someone who buys gold, haul my gold to the person, and probably get ripped off by the guy. If I am holding Bitcoin, I can sell it on an exchange from the comfort of my own home.

Regulation. Nobody feels that Bitcoin needs regulation, except Morgan Stanley and other banks lol. Bitcoin doesn't need a central bank, and it doesn't need governmental regulation. China banned cryptocurrencies, which sparked a sell off for three days as people picked up their laptops and headed to a different location.

Bitcoin will replace gold, and be the base for all other digital currencies. Regulation is for squares.

follow me on twitter @postmattern and @bitfuturist

Comments

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