However absurd the claims of certain bitcoin proponents may be, that does not invalidate the concept of digital money as a whole. simple examples of things that can be done more cheaply or swiftly with bitcoin than traditional payment methods are frequently requested by cryptocurrency skeptics. cryptography may make it simpler to hide unlawful conduct, but we haven’t heard of a clear case where it doesn’t. while the $100 bill is worth $1.6 trillion, which accounts for around 80% of all u.s. cash in circulation, bitcoin is valued at around $1 trillion. despite the fact that gold hasn’t been used as a medium of trade for decades, its value hasn’t diminished.

cryptocurrency such as bitcoin has the ability to appeal to both techno-optimists and realists alike. a monetary system based on banks and a government-controlled currency is advocated by right-wing politicians.

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