When the global economic turmoil began to sweep the United States, it was natural that many people would be asking if Bitcoin can help in any way. I’ll answer those questions in this article, as well as some of the more popular ones regarding Bitcoin.
The most common question for many is if Bitcoin can replace a traditional form of currency. Yes, in a sense, it can – if we’re talking about the online version.
Now, just because the internet doesn’t make that comparison doesn’t mean it doesn’t have an impact on our online world. It certainly has an effect. And if you buy stuff on the internet, using a virtual currency like Bitcoin does give you an advantage.
As a result, there are some governments who are now saying that if they can provide an alternative way to fund their governments, and the social and economic forces that are affecting our society, then they can also put a political influence into that decision. Unfortunately, they tend to be quite closed minded, since it would need them to acknowledge that money can be created by computers (or more accurately, electricity) and the market might not always be the best way to find the best prices.
If we try to separate the question of if Bitcoin will replace the dollar or other government backed currencies, it has to be said that governments won’t go out of business, since the majority of citizens still use the same dollar. However, in some cases, it may be possible to force some changes, and to have more options available to the general public.
In all, the end of the current financial situation should be based on how our economy and our society evolve. This article is intended as a general outline for people who are interested in some Bitcoin news.
For those who don’t know much about the topic, I’ll refer you to the Internet. Perhaps you will learn something that you can share with your friends or family.