WHAT OPTIMISTS AND PESSIMISTS HAVE TO SAY ABOUT BITCOIN

WHAT OPTIMISTS AND PESSIMISTS HAVE TO SAY ABOUT BITCOIN

Experts have been divided into two camps: the first camp talks about the coming end of Bitcoin while the second keeps saying that it has a promising future. Both camps provide pros and cons. How do optimists and pessimists see the future of Bitcoin?

Optimistic View

Optimists predict that in a few years (or maybe a few dozens of years) that exchange rate will rise to 100,000 dollars per one Bitcoin due to the growing popularity of the cryptocurrency. Bitcoin is continuously improving, and once the states reach an agreement on the legalization of bitcoin, there will be a surge in the bitcoin exchange rate.

Optimists continue to compare bitcoin to gold (which is why the cryptocurrency is also called “virtual gold”). In 2001, gold was sold at the price of 300 dollars per ounce, and during the crisis of 2008 its price went up to 1,800 dollars.

Pessimistic View

Pessimists keep reminding that bitcoins are not formally legalized and there are regular misunderstandings within the Bitcoin Community. Opponents of the cryptocurrency predict that the states will never legalize bitcoin as it represents a threat to conventional currencies. Governments are afraid of devaluation of their national currencies.

Pessimists also used to refer to security flaws, too. But over recent years security of virtual wallets has been significantly improved. Now it's even stronger than that of online banking systems.

Conclusion: Using bitcoins is very promising

There's one thing optimists and pessimists agree on: bitcoin is a promising currency and its popularity will continue growing. Yes, the government's reaction cannot be predicted, but the authorities have repeated on multiple occasions they were not going to outlaw Bitcoin. Moreover, Bitcoin decentralization and process makes it pretty hard to outlaw.