Uncertain Economies and Bitcoin Rise
Uncertain Economies and Bitcoin Rise
There is one other aspect of bitcoin that makes it a superb store of value. It cannot be taken from you. Used properly, bitcoin truly belongs to you in a way that funds held in a bank do not. Bank-held money can be taken unilaterally, upon action by the bank or a demand by the government – this is the nature of some forms of bail-in or ‘haircut’. But if you keep bitcoins in an address to which you alone hold the private key (not on an exchange), then they are protected with all the security of the laws of maths and physics that underpin the universe. So while bitcoin’s value against the dollar may fluctuate, it has the quantitative benefit that it cannot be appropriated by a government or third party. That is becoming more and more attractive in this age of both bail-outs and bail-ins.
https://due.com/blog/bitcoins-rise-amid-economic-woes-points-emerging-roles-blockchain-currencies/
There is one other aspect of bitcoin that makes it a superb store of value. It cannot be taken from you. Used properly, bitcoin truly belongs to you in a way that funds held in a bank do not. Bank-held money can be taken unilaterally, upon action by the bank or a demand by the government – this is the nature of some forms of bail-in or ‘haircut’. But if you keep bitcoins in an address to which you alone hold the private key (not on an exchange), then they are protected with all the security of the laws of maths and physics that underpin the universe. So while bitcoin’s value against the dollar may fluctuate, it has the quantitative benefit that it cannot be appropriated by a government or third party. That is becoming more and more attractive in this age of both bail-outs and bail-ins.
https://due.com/blog/bitcoins-rise-amid-economic-woes-points-emerging-roles-blockchain-currencies/
indeed ... but 'chain split' (hard fork) can be painful, after all nobody want to end up in an orphan area. When the split comes from a code bug and the community is united we can fix things quickly. When the problem is political then it can take ages to fix.
ReplyDeleteI would suggest read this article theverge.com - Bitcoin is on the verge of splitting in two
because it also happened to others big open source projects ... like Linux Kernel or even ICANN ..and why not ... an analogy to our 'polarized/binary' world that we leave in today ...