With the installation of Bitcoin ATMs in Australia and Canada clearly indicates its acceptance across the world. Still, the value is too high due to high net-worth people’s high stake gambling with the digital currency. I guess, the basic idea of Satoshi Nakamoto is to create an ‘egalitarian currency’ that will transcend geographical boundaries, break the Governments’ intervention and topple the highly centralized legacy institution by creating the holistic decentralized ideas to flourish. But, due to the intervention of greedy speculators, the Bitcoin is touched $ 5000 and projected to reach $ 10,000 in the next year. On the other hand, the energy-consuming mining process is ecologically unsustainable. The only ray of hope is the emergence of alternate currencies like Ethereum. What we need is the concepts likeColony, Steemit, Synereo to succeed in a big way and dsitribute the wealth to the genuine content makers, contributors and consumers. Otherwise, due to the ‘hyper-inflated rate’, the Bitcoins will vanish in the thin air and will be forgotten forever.
