One of my co worker had said that Bitcoin is evil leading it to Terrorism, drugs, child pornography. I got much love and respect for my co worker and I don't mean to knock her on what I got to say. Yes Bitcoin can potentially lead to terrorism, child pornography etc. throughout the blockchain depending on what people's intentions are. Drugs, Guns, Pornography can also be purchase within the black market like Silk Road. Fiat Currency on the other hand had been laundered with, reprinted, funded terrorism, easily extorted by the IRS, FED RESERVE by taxation, funded wars etc. it is centralized, manipulated and the value is decreasing. It is the biggest extortion material ever all across the globe due to government interest. Both money and digital money can be both evil depending on what the individual's intentions are. Bitcoin on the other hand can be in good cause away from the middle man, away from the centralized banks that's been manipulating our hard earned money, cannot be seized by anyone using your own pass phrase, pays out interest rates whenever its value strengthens. I myself disagree that it is evil in its innovations. I agree that there will be evil intentions depending on the individual. I also disagree on what Jamie "Demon" Dimon the chairman of J.P. Morgan had to say about it. He said it is a "Novelty" that is not worth anything and people who uses it are stupid. He also mentioned that he will fire his employees if ever caught trading with Bitcoin and Crypto Currencies. J.P. Morgan however bought Bitcoin at a price of 3,000 USD dip from a price of 4,300 USD. I consider the man a Fraud and a FUD and so is J.P. Morgan a SCAM due to weight of enormous bad bets on mortgage market. So ask yourself, do you want economy to grow without the middleman involve and a brighter future for our family and for our selves, or forever be a slave taxpayer for the rest of our lives?
If someone is truly concerned about drugs, terrorism and human trafficking they should be looking at who runs them..... Clue.... The people in charge at the very top with the power to get away with it. Bankers and power elites and govt spooks hate competition whether it's in illegal activity or money printing.
Crypto community sometimes can be so hype-based... Dimon criticised "bitcoin" NOT cryptocurrencies. Have you wondered why he fell short of criticising the whole idea of cryptocurrencies? Because Bitcoin does have a lot of shortcomings and its only intrinsic value is the ability to use it in a digital way in drug/gun/child trafficking. Digital fiat is very difficult to use this way, although you are right about cash (but that's not where trend is going anyway).
The only value bitcoin currently has is being the first entrant in cryptocurrency market. It's used as the main base to exchange with other coins. I get this argument, but this will fade over time.
So what remains is then the "hype". Bitcoin obviously has investment value. But that support's Dimon's comments, that bitcoin itself is without any value and it only is this high in price due to market hype, despite being technologically and philosophically inferior to other coins.
This is not to say bitcoin won't reach to the levels of $100,000 before it crashes in, I don't know, maybe 20 years. On the other hand, there are lots of other crypto-currencies/assets that are addressing bitcoin's shortcomings and those, I believe, are to stay longer (when I say longer, I mean for longer than 100 years if humanity continues to exist)
You know, bitcoin will be used mainly for bad intentions only if the government puts a lot of regulations and rumors on it to make it so unsatisfactory to use for common users and make it viable only to evil people.
Finally, they'll say that this is what they told us all along, that bitcoin is used for illegal purposes and take the highest available measures to eradicate it.
However, we have to resist against them. Each small step taken by them should be taken into big consideration by us.
Together, we are strong.
Together, we shall fight back.
Together, we will make bitcoin a legal currency.
Much love rkdupron. Together we can.
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