Bitcoin and other virtual currencies offer tremendous potential in terms of creating additional jobs, wealth and economic stability all over the world; it should come as no surprise then to find out these are three of the key reasons why government officials are not too keen on Bitcoin becoming a part of their economy. After all, if wealth would be distributed on an even playing field and decentralization is the new way of life, what do we need governments for?
The Pros and Cons of Bitcoin as a Currency
People who are very passionate about Bitcoin and other virtual currencies will often see the positive sides while turning a blind eye to potential drawbacks. First and foremost, Bitcoin is a whole new level of financial technology, unlike anything the world has experienced up until this point.
Human nature will automatically try to avoid any drastic changes, as our species does not handle abrupt adjustments all that well. Granted, there will always be those who remain ignorant and oppose change at every turn; but over time, more and more people will explore the potential of drastic transformations. Bitcoin is no exception in this