Why bitcoin is here to stay?

Recently we have seen big bankers and big heads of corporate world making negative comments on future of bitcoin .Bitcoin is being called fraud, ponzi scheme,tulip mania (bubble)and of no intrinsic value .

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Today we are going to bust all these myths about bitcoin. Without any further delay let’s dive in.

1)BITCOIN IS FRAUD?
Every bitcoin transaction weather it’s big or small is stored in a decentralized database called block chain,which is shared with many computers around the world and is visible to everyone. Therefore it’s the most transparent money system ever.

2)BITCOIN HAS NO INTRINSIC VALUE?
Value of anything is dependent on demand and supply. We know that only 21 million of bitcoins be mined. It’s estimated that 16 million of them are already in circulation. With ever increasing demand for bitcoin ,supply will be scare and bitcoin price will sky rocket in the future.

3)BITCOIN IS IN BUBBLE AND WILL COLLAPSE TO ZERO?
Everyone is comparing bitcoin with dotcom bubble. After dotcom bubble popped, successful companies like Google ,Facebook survived and changed the way we live same can be applied to bitcoin and other cryptocurrencies but it’s not fair to state that bitcoin will reduce to zero. Even though few Sh*t coins may collapse but bitcoin will stand out.

4)BITCOIN IS USED FOR CRIMINAL ACTIVITIES
Its commonly assumed that bitcoin is used for criminal activities like money laundering, tax evasion ,drug trafficking etc but according to a study less than 1% of bitcoin transaction are used for illegal activities.

Bitcoin is a peer to peer technology which will eliminate the need of third party therefore
Bankers and Government are scared that bitcoin will take away their control on money and give it back to people.
So don't get fooled by FUD created by one section of people.