Banning Bitcoin Will Not Reinforce Fiat Currencies Economic Persona

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(image via Bittrex.com)

There has been so much talk about the world heading towards a cashless society. Well, in Beijing, China, people are already using mobile wallets that are powered by fiat currency, but are digital. Alternatively, other parts of the world are also considering banning ATMs, which would completely lead to a slow elimination of cash.

Since being cashless is convenient, governmental control can be re-enforced. But there are drawbacks to the current approach to a cashless transition. For instance, there is a privacy problem, when corporations would want to use the information and the new data to further learn about people’s behaviors. Eventually, using blockchain could help prevent turning this into a tool to legitimize discrimination, and pushing government control on people. In fact, Bitcoin’s creators solved the problem of a cashless society with a fool-proof mechanism that eliminates corporate evils around giving banks too much power.

As true Bitcoin Believers, we consider it obnoxiously stupid for anyone to dismiss Bitcoin’s potential without diving deeper to understand the technology. Unfortunately, the rest of the world is buried deep in socio-political traps called Fiat currency and the Central banking system. How is this? Because, Fiat money is on its death bed, about to die. Thus, the human race needs to embrace ideological changes that have already begun around the globe.

Currently, we are at a point in history where we are numb to the oppressive regime of the existing economic systems. However, with Blockchain technology on the horizon, this could be the perfect tipping point, to move away from anarchy and rejection. As more economists and thinkers from all over the world validate the need for a better economic system, Blockchain technology could one day offer reprieve from financial bubbles and market crashes that have come as a result of actions by banking institutions.

With the realization that banks act as more cartels than institutions, and can cross red lines just to make more money, thinkers are ready to embrace blockchain. But, just like any other good thing, blockchain struggles with adoption. However, a fundamental change in the economic system is fast approaching. The underlying assumptions are now settling in. At the forefront, Bitcoin is no more than a move away from becoming the backbone of our financial system.

But wait, isn’t Bitcoin a bubble? Of course, the hype around Bitcoin was to be expected. There is absolutely nothing wrong with that. The fact that Bitcoin is based on hype is proof that after the logical prowess tests which great thinkers and analysts put it through, the math and code proved that it had substance.

Coin Cloud is a Bitcoin ATM company based in Las Vegas, NV. With over 650 locations nationwide, Coin Cloud boasts the largest two-way network of Bitcoin ATMs in the world. Having traded $82 million in bitcoin since its inception, Coin Cloud are experts in bitcoin and their hardware, software and live support team are here to show for it. To learn more about Coin Cloud or to find the nearest Bitcoin ATM to you, please visit CoinCloudATM.com.

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The world’s leading operator of two-way Digital Currency Machines (DCMs), a.k.a. Bitcoin ATMs.

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