Regardless of political opinions or libertarian affiliations. I’m a lifelong believer in bitcoin, although I also believe that the Central Bank and the Federal Reserve play an equally important function.
Why do I believe in Bitcoin?
The payment industry is a $500 billion industry, which basically means the banks and payment companies charge $500B per year in fees to provide a service that mostly involves moving bits around the Internet.
I believe we should have at least one alternative source of competition and solution to that issue.
Additionally, payment services should cost dramatically less than they currently do. If you sell electronics or other low making products online, then profit margins can be significantly affected by payment fees.
The money spent on fees could be reinvested in the other business areas.
Bitcoin can also greatly help in the area of online micropayments and micro-transactions.
I’m not claiming that cryptocurrency can save the economy or the world, but many of us believe that technology industry can offer meaningfully improved financial services by building something that doesn’t depend on big and existing companies.
For me, Bitcoin is a serious and decent proposal to dramatically improve the payments industry and business. There are plenty of open questions and even more challenges but definitely, it is worth it and definitely, there is an exponential opportunity.
“Great things happen to those who don't stop believing, trying, learning, and being grateful.”
― Roy T. Bennett, The Light in the Hear