Bitcoin – Prejudice Versus Facts

Bitcoin - Prejudice Versus Facts

Since its launch, Bitcoin has faced various prejudices. Most of them concern the security of the system. Digital cash – can this be at all tamper-proof? It can, because to date, no single digital coin has been copied.


The usual accusations – and how they can be debased

In the media, Bitcoin is often presented as a kind of curiosity. An invention of a few computer freaks who want to improve the world once again and at best reap a compassionate smile. Behind Bitcoin, however, there is much more, namely, a sophisticated payment system, which has been thought through from beginning to end, which has already gone through ups and downs and has proved so. The long-term course development can confirm this: If a bitcoin was worth just a few pence during its introduction in 2009, the price is today at just over 8 euros per bitcoin.

Another reproach deals with the use of bitcoins. According to this, it is proven that bitcoins would also be used for illegal purposes such as the purchase of drugs via the Internet. This is not a reproach, however, for making a currency, because otherwise cash should be forbidden immediately. Finally, with no payment method more crooked transactions are made than with notes and coins. Also, a digital coin can not choose in which hands it gets.

Is Bitcoin better cash?

Bitcoin - Prejudice Versus Facts

What is the difference between cash and cash? Bitcoin is initially counterfeit-proof. The algorithms and processes with which the transactions are verified in the background are much too complicated. No one can simply carry out such a multiplication of money according to the copy and paste principle. Bitcoin can also be used worldwide without affecting country-specific limits. All you need is an internet connection. This makes Bitcoin something special and by the way the only full-fledged digital currency on the market. For it fulfills all the criteria that a currency has to bring with it: it can be used for value preservation, value measurement and as a means of exchange.