OPINION: Bitcoin Is the Future, But Also the Enemy.

By Joshua Cook

Bitcoin has existed for as long as decentralized cryptocurrency since, well, it’s the first. It was established in 2008, and was made with the intent of improving freedom of movement of currency, but swiftly evolved into the “cash cow” we know it as today. It was never meant to be as valuable as it is today compared to how it was in the early 2010s, and because of this maintenance of the currency has been poor at best. In today’s economy, it’s important to question the value of financial decisions, and with all the nasty works surrounding crypto it’s about time to question the level of practicality and legitimacy surrounding this anomaly, and how I believe Bitcoin is both the future of our economy and the enemy all at once.

When discussing anything online, it’s important to know if you have the choice of privacy. Breaches of privacy can be a major threat to somebody as it can open doors for the malicious to commit fraudulent crimes, and this threat is especially present in Bitcoin. Due to its incredible bulk in cash value caused by encouragement to purchase in large amounts, one leak of a datakey can spell disaster for you. And the worst part is that once a delicacy to any part of the coins is discovered, it’s not just one or two people affected, but billions of dollars in damages are reported whenever this takes place, and there are only about 2.4 trillion dollars in notes and coins circulating in the United States.

On top of this, the fact that paying for items using Bitcoin is completely untraceable allows for criminals to make exit scams or carpet pulls and get away with it more clean and trustworthy than almost any type of scam, which is a scam that’s become so effective that few dedicate their entire “careers” towards running these.

With all of this information, it’s hard to deny the negative influences of Bitcoin on the economy. I, however, think you should absolutely check out Bitcoin for yourself. There are undeniable positives and with digital currency rising to the top in current years Bitcoin may, unfortunately, be the future. It wouldn’t have gotten to its position without some sort of valor, after all, but its downsides are actively being hidden by those who run cryptocurrencies and cannot be ignored.