Bitcoin has become for some, a scarecrow. Many are suspicious of him, he is given all sorts of evil powers. The devil incarnate would be Bitcoin!
And many media echo these apocalyptic visions.
Anti-Bitcoin propaganda is in place:
- Bitcoin is used by drug and weapons traffickers and other pedophiles (it was said in the Internet era)
- Bitcoin benefits Neo-Nazi organizations, and these grow rich thanks to the flight of cryptocurrency.
- Bitcoin is the end of the planet! He is a glutton who pumps all the electricity in the world! On its own it will trigger the worst global warming of all time!
- Bitcoin is very dangerous, it’s a big bubble that will eventually explode in your face and it will be much worse than with soap!
Finally, would not Bitcoin just scare politicians, governments and especially banks?
In fact, if you take a closer look, all these arguments do not really hold.
- Firstly, with regard to traffickers of all kinds, admittedly anti-Bitcoin, they would prefer the liquid. Bitcoin apparently, would provide no real improvement for this kind of criminals.
- Secondly, the Neo-Nazi argument does not hold either: because few banks refuse the opening of an account to people with unsavory ideas that I know! And as for making payments and other donations to some organizations, it’s not really that complicated to do them via banks!
- Third, for those who think that our poor planet will not survive Bitcoin:
- Bitcoin see you is a currency, a means of payment and a network of transactions.
Has anyone calculated the energy spent on the production and distribution of the currencies we use?
That is the operation of central banks, the production of currencies, the distribution of this currency via ATMs or not, vans etc …
Not to mention the computer networks of banks, bank cards and all other services related to transactions between companies or individuals.
There is no picture !! To your calculators!
And the bubble then, Pepin, the bubble?
We are told about tulips (1619-1622), the bubble of the South Seas (1719-1722), that of gold more recently (1975-1982), the American real estate (1996-2011), the oil (2005-2008) or the Internet (1994-2002).
So when will the explosion of the Bitcoin bubble?
The future will tell.
However, let’s not forget that there is another bubble, much more absurd! The bond bubble with negative returns! According to Deutsche Bank calculations, this concerns 17% of bonds. That is to say that people pay for a paper that in the end will not pay them anything!
The bonds are 8000 billion dollars.
Bitcoin 494 billion dollars.
So the bubble, if there is any, would not it be a very small bubble harmless enough?
Banks will become obsolete
In the middle of all this, a voice was heard this week. That of Israeli Prime Minister Benjamin Netanyahu.
This one tells us to think that the banks will become gradually obsolete, thanks to Blockchain technology.
Because banks, he explains, have been created and exist to ensure that transactions between two parties are validated and secured. Exactly what the Blockchain does through its decentralized system. But to do this, banks and states control how our money is spent and benefit from this control, to the detriment of both parties!
Whereas with the Blockchain, there is no more intermediary, the transactions are done directly between the two parts.
As a result, here is how Netanyahu concludes about cryptocurrency:
“The truth behind what I just said is what propels Bitcoin upwards”