Just about every month there is a new story of despair regarding the future of bitcoin, despite the obvious upward trend, and August has been no exception. Just today, Forbes said, "Bitcoin is worth $4000 -- Why you probably should not own one" and went on to explain that "it's a bubble, you see", just like everyone said last month and the month before that. The truth is, nobody really knows what will happen, that's why it's called speculative. But is it really speculative?
The difference between bitcoin and all currencies before its incarnation is that it can be mined. Gold, you would think, would be the most expensive currency because of this, but the fact is that metals are limited and digital currencies are infinite.
"But bitcoin is finite!"
Yeah, I know. Repeat after me: Bitcoin is not the only digital currency!
Regardless of how this so-called bitcoin bubble performs, there really is no reason to believe that digital currencies are a mere fad. In fact, there is so much more data to support the theory that bitcoin is here to stay, along with the other stronger currencies like Ethereum, Dash, and others. This is due to the fact that countries are attempting to regulate cryptocurrencies as much as they can for the simple reason that digital currencies are usually decentralized, and the idea started with bitcoin itself. Decentralized currencies means banks can control them, and that means the world economy is quickly changing to move away from centralization and putting the power of the bank into the hands of the common man.
Some people are scared shirtless of what they call "the coming global collapse" but the advances in technology and controlled civilization seem to outweigh the fears. For example, the banks are already exploring blockchain technology, the primary tech behind bitcoin and most digital currencies, as a means to transfer money between banks on a global scale at a faster rate than it currently is. This means banks are embracing the technology of cryptocurrency instead of shunning it.
Although, no one should really be surprised if the big banks have anti-cryptocurrency contingency plans if or when they can't adopt and adapt quickly enough to retain control, and that is precisely what many people fear will fuel the economic collapse.
