We had gone through The Evolution of Money, now let's take a peek at
Its original intention is to create a system of money that doesn’t concentrate the power into the hand of a few. It is meant to be used as a medium of exchange. Along the way, it can be used as a store of value, and someday, it might become a unit of accounting.
Bitcoin, is not created for speculative purposes. It is definitely not a get rich quick scheme, as
most people perceived, at the moment. There will be all kind of traps along the way, when
people try to exploit the technology.
It is a get free scheme, free as in freedom.
While security and scalability are well taken care of, there is much need to be done on the stability part of it. High volatility is something that stands in the way for a mass number of merchants to accept cryptocurrencies as one of their payment options.
This article is an excerpt from Chapter 1 of the book Blockchain Insider.
If you are interested in pre-order the book, kindly leave me a private message, the publisher will alert you once the book is ready. Thank you.
For further info, you may want to check out Andreas Antonopoulos' video - "Blockchain" or Bitcoin: Understanding the differences
