It is a huge project that started more sustainable cryptocurrencies and thatโฆ
It is a huge project that started more sustainable cryptocurrencies and that is revolutionizing the world economic system.
๏ปฟ
Pros
-Instant payment can be made to anyone, anywhere in the world
-Transactions cannot be reversed for any reason
-Third parties are unnecessary
-The supply of bitcoins cannot be manipulated by any government, bank, organization, or individual
Cons
-Emission limit. While it is positive to avoid the loss of value, the fact that it is deflationary could encourage its accumulation and therefore, as the Nobel Prize in Economics says, Paul Krugman could depress the economy.
-Volatility: since its creation it has had large price increases. 2013 started at 10.2 EUR / BTC and closed at 579.9 EUR / BTC, reaching close to 900 EUR / BTC, which makes bitcoin an attractive currency for speculation. Over time, it is normal for the variation percentage to decrease and have a more stable quote.
-Guarantee of acceptance: although there are more and more establishments that accept them, they are still a minority. It is used primarily by feelances and for the acquisition of computer equipment.
-There is no regulator: the one that does not have a backing behind governments and central banks for many can be a clear disadvantage as they would feel more comfortable with the support of a regulator.
-Anonymity: As in the previous point, the enormous advantage that implies that the transactions are anonymous is a disadvantage for many who fear that it is used for illicit activities and for not fulfilling the tax obligations