Is Bitcoin The Future Of Money ?

 

 

 

 

” You may have seen in the press recently that the US Federal Bureau of Investigation (FBI) has shut down drug website Silk Road.

With this news many commentators have tied in the fact that many customers of Silk Road use Bitcoins to make transactions. Some have even suggested that now the FBI potentially has a grasp on Bitcoin it will mean the end for Bitcoin and all other private digital currencies.

But from what I can see, the Feds shutting down Silk Road is evidence Bitcoin will survive and be a permanent fixture in the global economy, whatever shape or form it might take in the future.

The biggest issue with Bitcoin is the insane price volatility and people using it in a way not suited for its intended design. Most people see Bitcoin as an investment.

Because Bitcoin is so new, people are confused about what it is and how to use it.

And that’s half the issue, people are trying to pigeon-hole it into a definition, ‘Oh it’s like gold. Oh it’s like cash. Oh it’s like a stock.’ In fact, it’s all of the above and more.

It’s a whole new medium of economic exchange.

It’s most similar comparison is to gold. But it’s as flexible and liquid as cash…with the potential to appreciate in value like a stock. You can’t define it as anything other than Bitcoins.

You need to also remember its history to appreciate its actual current resistance to turmoil.”