Economics & Money
Unpopular Opinion: The Future of Money Is Not… Bitcoin
But here’s what a viable digital currency should look like
Bitcoin may have laid the foundation for the future of money. With its groundbreaking blockchain technology.
It’s both a digital currency and an electronic ledger of all transactions since its quiet public launch in January 2009.
But BTC—even with its cryptographically secure digital assets—won’t be the currency of the future. At least not a currency that global citizens can use with convenience and rely on for their day-to-day transactions.
Bitcoin is too slow.
It eats up electricity like a ravaging beast.
And its adoption has been mediocre at best.
The bitboys can try to sugarcoat these shortcomings all they want. But it doesn’t change the fact that Bitcoin is these things.
Can you imagine it taking 10 minutes or longer to swap money for food at the supermarket?
With Bitcoin, that’s the reality. It’s slower than a tortoise.
But unlike a tortoise, it uses the energy of an elephant. It’s big and bloated, and the…
