Lot’s of person, know about bitcoin, it’s a digital currency or a open source finance system across worldwide to transfer money or payment.
But bitcoin advocates are talking about long term view positive and believe on bitcoin with it’s potentiality to transform the financial sector and economy of the World.
This is not virtual, behind this lot’s of strong reason about that. Because of, today! if you want to transfer your money to other person account then lot’s of formality and barriers to transfer due to security and bank authentication reason.
But when we are dealing with bitcoin then their is no need to take long process, it’s simple and transfer without barriers across world with nominal charges of transfer payment form peer to peer system or one person to another person account through blockchain address for bitcoin (BTC).
“What would happen if you and I could just exchange money without it ever going through a bank?”
Bitcoin could render banks outdated much as the internet had rendered newspapers and stamp album stores irrelevant, optimists thought. Eventually, the industry could be rebuilt taking into account Bitcoin as its appendage creation. I was one of the people who thought this vision was plausible.
What went wrong?
The Bitcoin community has been hampered by a dysfunctional culture that has grown increasingly hostile toward experimentation. That has made it hard for the Bitcoin network to save happening when varying push demands.
But Bitcoins larger misfortune may be that it just doesn’t solve any problems received people have. Conventional financial networks are enough for unknown transactions. And for that footnote even though Bitcoin is in no tormented of disappearing, it continues to be relegated to the margins of the global economy.