The Bitcoin is worth more than gold now. They used to be worth less than $1 at one point when people began mining them on their computers and since have grown into a digital crypto currency worth over $1200 each. Most governments have fought tooth and nail to keep the BC suppressed but after millions of dollars invested and made, not even they can hold it back longer. Some of the richest industries in the world too fought this and here are 3 that will likely pay anything to stop the digital crytpocurrency world from taking over.
#1 – Banking Industry
Bitcoins almost eliminates the need for a bank. With no need for physical money, there is no need for storage. There is no need for checks either. Everything can be done at home or on a mobile internet-capable computer device and faster. Banks, at a stage where everyone trusts the BC, would virtually no longer be needed. The only ‘up swing’ to a bank right now is the government insurance.
#2 – Money Wiring Services
Moneygram, Transferwise, and Western Union are companies that survive off taking advantage of people who need to transfer money. These global giants charge people rates as high as $50 to send $400, robbing customers of hard earned money. They even hide some of their profits from transactions in the ‘exchange rates’ they advertise, gaining as much as 2.5% by giving clients a lower ER than the true value.
With Bitcoin could personally make transfers happen from a cell phone or tablet in seconds, NO FEE. No need to show IDs, nor wait in lines, nor fight with people over mistakes in receiver information. Most important, you control your transfer and no one can deny you the right.
#3 – ‘Favor$ for Favor$’ Government Officials
Government officials never like change of things like money until they get their hands in on the action. Banks, financial institutions, and even the US Mint are all businesses that pay the governments dues through organized, shady practices, called ‘favors for contracts.’
Bitcoin would eliminate these industries taking millions out of the cycles of the pockets of these questionable officials doing ‘back door deals’ and ‘scratching backs’ for returned favors.
These will be the biggest 3 hurdles had for Bitcoin in a rapidly changing digital age. None of the 3 can truly stop the cryptocurrency era because the digital boom is already part of every day life, mobile device to laptops and computers.
The last ‘war’ to be fought on Cryptocurrency taking over is when the US government tries to regular internet. This will be done as it’s been done to every ‘booming’ industry by corrupt people who want to put everything under licensing, so they can get a ‘favor’ from whoever ‘qualifies’ for a license.
However, if the general public understood the efficiency of a world dropping the first 2 industries and how much money could be saved in day to day living without them, the battle over Bitcoin would be won in a flash. The systems above are what keep billions of dollars out of the hands of the lower and middle class working people in society, who most need it. The transfer of wealth by using a digital currency for everything would be immense.
Still not convinces? Have you seen the ‘Can’ Stop the Bitcoin’ video where even Bill Gates admits Bitcoins are the better way to divide wealth? It exists and is mixed into a group of very entertaining video clips from speakers like Roger Ver and radio host Max Kieser, all boasting about the importance of cryptocurrency [see video here].
There are other cryptocurrencies beyond Bitcoin as well which are increasing in value but none rival the BC to date. See a photo of others below.