Our Currency Revolutionized

BitCoin is the currency of the future. Just as the internet completely revolutionized the communications industry, BitCoin will completely revolutionize the global economy. The online currency is rapidly growing in popularity and will only continue to do so in upcoming years.

By accounting for the deficiencies that come with a physical economy, BitCoin solves many of the problems our current currencies suffer from. One of the biggest problems with our current dollars and other currencies used around the world is inflation. Over time all currencies lose purchasing power at a rate of few percents per year mainly because governments keep printing more money. Only about 21 million Bitcoins will ever be released (mined). The release of new Bitcoins is slowing down and it will stop completely within a few decades.

And not only will BitCoin change the economy, but it will more than likely change the way we perceive currency as a whole. Instead of carrying around physical bills that can be lost or stolen, you can carry a billion dollars worth of Bitcoins on a memory stick in your pocket. It might seem like this concept is similar to the idea of credit and credit cards, but it’s much more secure.

There are of course critics of BitCoin who think that the currency is too new and therefore impossible to accurately make predictions about it. In their eyes, the world is simply not ready for BitCoin. But contrary to their beliefs, I think the new age internet currency can propel us much further than we previously thought possible.

Mauldin, John. “Is Bitcoin the Future?” Forbes. Forbes Magazine. Web. 3 May 2015. <http://www.forbes.com/sites/johnmauldin/2014/12/01/is-bitcoin-the-future/&gt;.

“New Money”. The Economist. The Economist Newspaper. 17 Mar. 2014. Web. 3 May 2015. <http://www.economist.com/blogs/freeexchange/2014/03/bitcoin&gt;.