“and How Bitcoin is misunderstood”
To anyone out there who thinks that Bitcoin is supposed to be some untraceable facilitator of criminal enterprise, its predecessors, Visa and MasterCard would be insulted.
So, what is Bitcoin?
BITCOIN IS A PAYMENT SYSTEM DESIGNED TO EXIST UNDER THE INTERNET FACILITATING THE SECURE PAYMENT FOR GOODS AND SERVICES BETWEEN A BUYER AND A SELLER AT ALMOST NO TRANSACTION COST.
That’s it, that’s all it is….it’s designed to bring the transaction cost to zero and do it securely without philosophical or political bias. It’s doing exactly what it’s supposed to be doing right now in Russia where it can be used to side step sanctions and in the Ukraine where it can be used to donate to their efforts. Bitcoin does not care which side you are on and it doesn’t care who you pray to or who you donate to or what your motives are:
And the kicker? As long as the internet exists, Bitcoin will exist. This is what scares money policy people. Not that it will be used to fund criminal enterprises, but that it can’t be controlled or censored.
In my next article, I’ll show you exactly why outfits like PayPal, Cash app, Zelle and Venmo are lining up to assassinate Bitcoin and all cryptocurrencies while advertising to the lower 50% of the working class. Big Banking screwed up and fee gouged many people out of the service all together, so Big Banking has morphed into Alt-Banking to service this stratus of families and individuals. Problem is? They are owned by the same groups!
Be warned: every single dollar you have stored on apps like the above can be seized and any transaction can be censored based upon their own internal policies. Like they say in crypto, not your keys not your Bitcoin. But that’s for tomorrow.
