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Bitcoin: Evil Cryptocurrency or Force for Good?

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Bitcoin: Evil Cryptocurrency or Force for Good?

Source: Crypto Disrupt

Source: Crypto Disrupt

Source: Crypto Disrupt

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Bitcoin is a digital currency called a cryptocurrency that was made in 2009 by a man named Satoshi Nakamoto and has become quite popular now. However, it is used mostly in online transactions, so they aren’t used at local supermarkets. To buy one Bitcoin, you need to pay 6,577 U.S. dollars, so here’s the real question: Is Bitcoin really worth any investment?

“I think the Internet is going to be one of the major forces for reducing the role of government. The one thing that’s missing but that will soon be developed, is a reliable e-cash,” explained Nobel Prize winner Professor Milton Friedman, according to cnn.com.

“Bitcoin is evil,” added Paul Krugman, a Nobel Prize winning economist. If even Nobel Prize winners are warning us about Bitcoin, maybe we should watch out.

Another issue is that Bitcoins can be stolen through “hacking” however, some Bitcoin supporters believe that the coins can be a “force for good.”

“Hey, obviously this is a very interesting time to be in Bitcoin center now, but if you guys want to argue over whether this is reality or not, one Bitcoin will feed over 40 homeless people in a Pensacola (Florida) center now. If you guys want proof Bitcoin is real, send them to me,”stated Jason King, according to weusecoins.com .  “I’ll cash them out and feed homeless people,” he added.

Bitcoins may simply be an alternative to traditional money or an unstable source of investment income, or perhaps even a unique method of helping organizations in need. Maybe, this unique currency could be all three. Only time will tell if Bitcoin is a passing fad or a lasting “change.”

 

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Bitcoin: Evil Cryptocurrency or Force for Good?