The most famous cryptocurrency shows limits. Its volatility and transaction costs show that it is a tool of speculation.

1. Extraordinary volatility

An example helps to understand why the extreme variations of bitcoin sometimes make it unusable. For this, just imagine the purchase of an iPhone X worth 0.1 bitcoin - about 1300 euros at the time we write these lines. Because of the technical limitations associated with massive use, the time to take effect can be as long as several hours. At the time of the transfer, the debit could eventually correspond to 1200 euros - the user would be delighted - or 1400 euros - Apple would be delighted.

2. An energy chasm

En accumulant des ressources informatiques les mineurs consomment de l’électricité. Beaucoup d’électricité.

3. Huge transaction costs

To secure and validate each payment, machines must solve a mathematical calculation. This operation (the mining) requires an immense computing power and therefore large investments. Minors are paid in bitcoins, but also in ancillary costs which depend on the speed with which they deal with the transaction.

4. Imperfect security

Anonymity and secure transactions are some of the foundations of bitcoin. Without a centralized body to control cryptocurrency management institutions, users have to rely primarily on word of mouth. Although transaction piracy is unlikely, virtual wallets are not foolproof.