The Bitcoin and Crypto debate is becoming such a tug of war of words. One day we hear this and the next day we hear that. Just two days ago I read that governments are going to accept Bitcoin as a form of payment and today its no a currency. I am so glad you broke down each of these individual reasons so well. The fact of the matter is we are really still in the infancy of the Crypto revolution. There is still so much growth and acceptance to come. As this market grows and we get to a point where we grow with strength rather than on a yoyo more and more people will start to accept this payment. These are the same people that are gong to be backing Bitcoin. I find it very frustrating how it is stated that Bitcoin needs to be backed by a formal entity such as a bank or government. The who point is to remove the control that those institutions have. The only one of those four points that has any legs for me is the volatility. The issue here is that we are still so tied to the value of the US dollar. As long as that is the case then we are going to have scared people. As more and more accept Bitcoin as payment and LitePay comes online and Crypto cards further develop and get used in a more mainstream why, the harder it will be for anyone to deny the validity of Bitcoin. It is a currency if you want it to be!!!
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