Is the cryptocurrency Bitcoin a good idea?

Just as good as what we now call ‘ real money ‘.

Money was once stamped a nugget of gold or silver with a hallmark that it was good quality.That was a currency. The value was intrinsically attached to the metal, and depending on the demand for that metal. When a huge gold mine was suddenly discovered, easily windable, your gold stock was suddenly worth less.

It is therefore a matter of trustthat the gold or silver remained worthy.

Transporting or storing many stamped nuggets (i.e. coins) is dangerous.You time by the government protect places and you received a receipt on paper. What if currency money itself was going to function. What facilitated the transactions, which also allowed the economy to grow again.

But counterfeit money remained a problem, people trusted the coins, and the letter money (‘ The Dutch Bank paid bearer 100 guilder ‘ insisted), but danger of Valsemunteruh remained though.

Then came the digital money.First, just the Giro, bank accounts etc. That greatly improved security and less chance of counterfeiting, and much lower transaction costs. Lower storage and secure costs. If you trusted the banks then.

It is always about confidence.Trust of banks, governments, markets, counterparties in trade, etc

Crypto gives a chance to obtain that trust in a programmed way.You don’t have to trust institutes like banks and counterparties, the technique is already forcing the safety off. Transaction and storage and secure costs are only a fraction of what the digital euros cost.

The current trust in Crypto is not high, but that is due to unfamiliarity with the phenomenon, and misunderstanding.But tell, do you really know what your confidence in the Euro or formerly the guilder is based on? You had become accustomed to just trusting it. But technically, crypto is safer and even cheaper in transactions and owning. Only the price is volatile. Like that of the Euro or the Dollar or whatever.

As soon as the Gartner-Hypecycle has passed through the valley of Disappointment, the platform of productivity comes.And then it’s going to be much cheaper to have ‘ money ‘, to keep it, to carry out transactions around the world. And then it goes hard…

Whether it will be Bitcoin or another name, no idea, but the idea can not be further developed.It deserves more literally technical confidence than your bank accounts and is much cheaper to use. So remains about: the speculative part of the value. What with with each other value-carrier is also so.

Confidence will grow because technically safer.

The costs are lower than gold, coins, notes, or digital bills.

So it can only be 1 side up. When?No idea. How deep the valley will be and how long? Who knows it may say. But I see no arguments before real money or digital euro accounts, in the long run. Because the current confidence in the traditional forms of money is simply not right.

Plus that economies of scale, also play a role by globalisation.More and more and more and more large and small transactions that are accelerating over the globe. It is always necessary to exchange and transport costs, the digital form and is already closer to the crypto money, in terms of the idea.

The question is too vague to give a concrete answer.Please go into more detail.

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