The revolutionary digital currency Bitcoin

[a.flynn]

I think bitcoin has certainly come a long way since I saw it starting in 2009 when it was just a niche digital currency - now it's a major financial asset class, attracting investors, tech enthusiasts, and even governments. With its decentralized nature, Bitcoin offers a way to transact without relying on traditional financial institutions, which is one of its strongest appeals.

While its volatility has raised concerns for some, others see it as a hedge against inflation and a potential store of value. As technology continues to evolve and more people adopt cryptocurrency, Bitcoin’s role in the financial world is only set to grow.

Whether it becomes the future of money or faces challenges from central bank digital currencies, one thing is certain: Bitcoin has started a digital revolution that’s reshaping the way we think about money.

What do other forum members think?

[McGaskil]

I think Bitcoin and other cryptos are here to stay, they're too well entrenched now.  But the really worrying notion here that you mention is - 'faces challenges from central bank digital currencies'.   Central banks like BoE and TFR have enough of a monopoly as it is, so we don't want them having their own cryptos as well.

[MsLeon]

I think you're absolutely right about the big banks coming into the crypto space. The whole point of Bitcoin and other cryptos was to offer an alternative, but if central banks come in with their own one's, that wouldn't be good as they already have too much say-so imho.  

[a.flynn]

I think you're absolutely right about the big banks coming into the crypto space. The whole point of Bitcoin and other cryptos was to offer an alternative, but if central banks come in with their own one's, that wouldn't be good as they already have too much say-so imho. 

I totally get your point - and big thanks to everyone else on this thread for your thoughts on this! The idea behind Bitcoin and other decentralized cryptocurrencies was to challenge the traditional financial system, offering a more transparent and permissionless alternative. If central banks or large institutions start issuing their own digital currencies, it could potentially defeat the purpose of decentralization and open up a lot of risks. They could still have the ability to control monetary policy, surveillance, and perhaps even limit how people use their own money.

[blag-it Admin]

I think you're absolutely right about the big banks coming into the crypto space. The whole point of Bitcoin and other cryptos was to offer an alternative, but if central banks come in with their own one's, that wouldn't be good as they already have too much say-so imho. 

I totally get your point - and big thanks to everyone else on this thread for your thoughts on this! The idea behind Bitcoin and other decentralized cryptocurrencies was to challenge the traditional financial system, offering a more transparent and permissionless alternative. If central banks or large institutions start issuing their own digital currencies, it could potentially defeat the purpose of decentralization and open up a lot of risks. They could still have the ability to control monetary policy, surveillance, and perhaps even limit how people use their own money.

Great topic for this section!  Thanks for contributing to the forum!


Admin