According to the World Gold Council, Bitcoin could undermine Central Banks. Well, that's funny, because it is exactly what a cryptocurrency has to do!
Bitcoin was created in 2009 by Satoshi Nakamoto. On the whitepaper, it is clearly stated that Bitcoin was meant to be a "A Peer-to-Peer Electronic Cash System". What does this mean?
The answer is in the same whitepaper, right in the first paragraph:
an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party.
And what happens when people, anywhere in the world, can make financial transactions without a third party? Exactly: banks are going to be undermined! That's exactly what Bitcoin wanted to do: to free us from banks, governments and other financial actors and bring the power back to the people.
So, we should not be surprised by the claims of the World Gold Council, saying that Bitcoin "might make monetary policy less effective and undermine the tools used by the Fed and other central banks to influence the economy". It means that Bitcoin is working, and it's working at its best.
Decentralization, censorship-resistance, pseudo-anonimity: that's what we need and that's why HODLers choose Bitcoin.
We're at the dawn of a new world, where bankers and people wearing suits and ties will be replaced by powerful computers doing complex mathematical functions.
I've got a question for you: will Bitcoin be a digital gold or will it go even beyond the idea of gold itself?
Souce: Bitcoinist
PS: There's nothing wrong with wearing suit and tie, you don't need to be a banker or an evil man to wear it!
Great news, very useful for me. Thanks for sharing buddy
Did it really take you less than a minute to read and understand this post? So, tell me your opinion: is Bitcoin going to replace gold, or will it go beyond the idea of gold itself? That's the question I asked in this post.
There are indeed users out there,
They copy-paste comments and do not really spend time to read,
Saddens me.
I think bitcoin is future and it's definitely going to replace gold in future :)#following you dear follow me back :)
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