Who is attacking Bitcoin and why is the question that is becoming more and more relevant. The why is obvious it is because BTC is now an immovable force that has tripled in value in 2017. It is set to challenge the way we buy and trade goods and services.
Let us take supermarkets as an example of how this works. Before they existed we had shops selling specified goods. The butcher, the baker, the fish monger, the grocer etc. Then along came the first supermarket and it was impossible to appreciate the impact it would have. In a short space of time, independent shops were almost finished and the big four supermarkets began to take over and rule the way we shop.
Competition between them they say has kept prices down and we are better off financially. We have to wonder just how low the prices are when you think of their ever-increasing overheads. Dividends to shareholders, advertising, massive stores, on-line delivery have all to be factored into the overall price.
This is the same for any industry be it communications, airlines, power companies, tv etc.
The larger companies will always buy out the competition before it grows large enough to be a challenge. However, things do not always go smoothly and sometimes things are beyond their control.
Take the rise of Aldi and Lidl who keep their costs to a minimum and efficiency at a maximum they are growing at an ever-increasing rate. It is now seriously affecting the profits of the big four as they have to try to compete whilst still having their same overheads.
It is the same for BitCoin. It is the new kid on the block., smart efficient and now unstoppable. It is why the financial élite and institutions are concerned. They are losing their grip on controlling our lives and finances.
There are a growing number of people with expertise who have studied the trends and implications of using BTC. Most countries have set up committees to see the way forward. A quick check on the internet will show how seriously countries like USA, India, Great Britain etc. They are taking the challenge of how to cope with Bitcoins technology and growth. The greatest seem to grasp the technology and potential and wish to expand it to help all.
To quote Donald Trump Fake news is happening all the time. Certain institutions will write that Bitcoin is just used to buy drugs, guns anything illegal on the internet. However, it is the old adage why should the greater suffer because of the minority.
It is not BTC that puts up illegal and toxic sites but eventually it is this type of technology that will control it. You can only find a solution by looking at the underlying causes. Until people are given equal opportunities and start in life you will never stop the growth of evil. Lets not look for negatives but grasp the positives and Bitcoin is a very positive advancement.
This post was last modified on May 13, 2021 9:02 pm
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