What’s the Controversy Over Bitcoin?
Bitcoin – something we have all heard of but never fully understand what the hype is all about. Apart from the hype, there are always news headlines regarding the scandals related to bitcoin. All of this talk in town only leads us to one question: what’s the controversy over Bitcoin?
For starters, you need to know what Bitcoin is. According to the company, they are the pioneers of a peer-to-peer payment network that involves no intermediary. Here , the first controversy begins: governments are highly against cryptocurrencies like Bitcoin simply due to the lack of a middleman during the buying and selling of money or commodities.
Governments and Money: What’s the Relationship?
Governments are the ones who issue currencies to their people. While currencies are merely numbers printed on pieces of paper or metal, the government claims that they have value, and the general population believes them. These notes and coins are then used to make transactions of all kind, and the money flows around through the entire economy.
However, conventional currencies do not have any actual value since they cannot be given back to the government in exchange for commodities. If you want to purchase even something as simple Continue reading