Bitcoin: A Layman’s Explanation
Aamer Abbas
6266

Yeah I heard about bitcoin a few years ago when it was valued around $350 and thought it was amazing.. I wanted to invest but didn’t unfortunately. Of course now, in really digging around into the history and researching the various cryptocurrencies, I can only conclude that rather than the idea of a “decentralized people controlled” currency being pitched, that bitcoin is in fact a very creative government invented solution to quite a few problems in the economy that can’t be avoided. Additionally, the extra media attention on the successful ransomeware hacks all demanding bitcoin for payment and then the utter lack of followup leading the American public to believe these individuals are too illusive to catch, ultimately seems like an intelligent way to subliminally get criminals to trust digital currency, where each transaction can actually be tracked and held on public ledger indefinitely. Any traction gained by other cryptocurrencies will only be allowed in order to successfully study whatever technologies are behind them before bitcoin ultimately implements an update providing similar capability. If someone were to be clever enough to create a technology that went viral and was on track to eliminate bitcoin, I’d bet at that point the government would step in to regulate what they have been so oddly relaxed thus far about.

Thanks for the informative post.

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