What makes people fear bitcoin so much? Well, it could be the fact that it was the first digital currency, and it revolutionized the whole money system and took it by a storm. That sure made the banks and governments fearful that there would be a strong self-regulated currency that will make them obsolete. But as we all know, that’s still far from happening, so what is it that leads to this irrational fear of the digital currency we all know and love.
Well, it’s definitely something new, and a lot of people just don’t like changes, especially (and no offense) the older generation, they view it as some numbers on a screen rather than real hard earned cash in their hands, and it’s hard for them to accept it as real money.
We can understand that, even with real $ and Euros on a computer screen, it still doesn’t feel like the same feeling as cash. But it’s all changing, most of the transactions in the world are now with credit card and paypal. Especially thanks to e-commerce.
But unfortunately that’s not the only thing, lately there have been many cases of DDoS attacks where the attackers wanted the ransom paid by bitcoin, since the currency is untraceable. That made people wary that bitcoin is being used for such things.
However, as well know, every innovative thing can be used for better or worse, same as the internet itself, so we should all try not to judge it only by the bad.
If you’d like to see more on the dangers of bitcoin, check out this video from the telegraph:
Also you can convert it from youtube to mp3 and listen to it on the way.
Make sure to also check out our brand new hardware for mining bitcoin.
See you next Sunday!