Bitcoin is for me one of the things that will boost a change in the world financial system. Traditional banking and money as we know are subjected to a high regulation that inhibits innovation and development but promotes safety, which makes the financial system quite resistant to the change. Despite the implicit security, the several financial crises and daily fraud cases, promote an alternative solution for our financial system.
Bitcoin is the opposite of the traditional financial system. High level of potential to exploit and innovate but safety is far from being accepted. However what makes me believe in bitcoin?
Ease of Transaction. With the use of bitcoin we got a very easy way to transfer money anywhere in the world without charges or with very low costs. This increase our investments opportunities to every part of the world. This ease of transaction have also other effect in closing the gap of some economic differences between countries, like the yield rates.
Ease of Use. To have a bitcoin wallet you just need a phone with internet access. No bank account is required, no complex registration, no fee, only a simple online registration to start. In developing countries, this can be a key factor for the first contact of many people with the “not physical money”.
Being Isolated from Inflation. Bitcoin is not linked with any country inflation rate and can surpass bad events and crisis, like the ones Angola and Venezuela are experiencing right now.
Ease and possibility of doing micro payments. With bitcoins, payments can be made in very lower amounts than today, tenths and hundredths of cents. This new possibility gives opportunity to create new strategies and new ways for doing business. Imagine that you to read each post of the blog have to pay 0.001€. With bitcoin it’s possible and easy.
It is true that there are many security issues to solve. It is true that price volatility of bitcoin continues to leave many people outside but grow continues and there are already nearly 6 billion euros in bitcoin. I already use bitcoin and you, already have your bitcoin wallet?