For fix or help a lot of those problems

For quite a long time in this world, there has been a morphing of money and politics. Our government control the means of value through fiat currency (paper money). If you think about it, banks get money from the government, and almost everyone in this entire country has once had, or has a loan from those banks. Yet if you do not pay your loans or house payment, you get that loan money or house taken from you. They can literally take away something of actual value from you based on paper. This paper only has value from law. The law is made by the government. This is how they have control over all money. It is like money and politics are one and the same thing.  Fiat money also has problems with efficiency when it comes to others duplicating or manipulating it. There has been people that have created counterfeit fiat currency, along with bank fraud and other such forms of manipulation. This creates problems in security with fiat money as well. With almost all people security is a top priority when it comes to their money. Based on someone’s belief in the system, they may or may not be able to trust fiat money. There is a way to separate money and politics and create more security and even lower transaction fees though.Ashton, Pg. 2The currency that might be able to fix or help a lot of those problems is cryptocurrency. Cryptocurrencies like Bitcoin are currencies that are on the web. They are digital and can actually hold value beyond a piece of paper. Now, there is no saying whether or not Bitcoin would be effective in fixing or helping to fix some of the problems that fiat money has unless everyone bought in. But, if everyone were to buy all their monies value in Bitcoins then we would live in a very different world. Government, first of all, wouldn’t have any control over money anymore. Bitcoin is generated by the people and is in power of the people. Regular People can “mine” bitcoins on the internet and that is how they are made. You can also transfer bitcoins between businesses and yourself as well. This creates a scenario where the politics and money are seperated. The government no longer can tax every purchase that goes on in the U.S. Your money no longer goes through a bank either. It goes through a clearinghouse and that saves a lot of time when it comes to transactions with others as well. However, this would not crash governments. Blythe Masters said in a conference, “There is no innovation that governments cannot seize for their own advantage…”. There would be a way that governments could “taint” the bitcoins after buying them and then selling them again. This would make it so the government could track all transactions that that bitcoin is in. This would make it so banks could use bitcoin to transact with customers. That sounds bad but it would be more efficient when it comes to transaction speed and cost. There is no one that the transaction has to go through in order to be Ashton, Pg. 3passed along when it comes to bitcoin. This makes the cost close to none and the speed of the transaction extremely quick. Right now we know that Bitcoin is spiking and it will continue to spike with the continuance of interest in it. There is a chance ,in contrast, that Bitcoin could plummet. People have made millions off of bitcoin but if it does not get accepted by most everyone then it may not survive. This is what keeps people from wanting to invest in Cryptocurrency. There is no saying whether or not Bitcoin is going to last and become a internationally accepted currency. If this does not happen then everyone in the system may start to lose a lot of money because there is not such a large demand for it anymore. In turn, people will start to bail out of it and the value of it will drop significantly more and even maybe zero.One of the things that is keeping it back as well is how quickly people can get to Bitcoins, which is not very quick. They need to be “mined” in order to be added to the system and if there is not enough of them for the whole world then not everyone can buy into it anyway. This is the reason that the price for a bitcoin is so high right now too. The demand for them is very high because there isn’t a whole lot of them. With all this being said Bitcoin is growing rapidly and no one knows what could happen with it. There is reasons that would make Bitcoin so much more effective than fiat money but the downfall could be great if it ever does fall. It could help transaction speed and pricing, it would put the power of money in the people’s hands, and it would make the security of the system so much greater. It just depends on if people are willing Ashton, Pg. 4to take the risk of buying into Bitcoin or not. All in all at this point, Bitcoin is making a lot of people rich and it is not going unnoticed. So what will you do?


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