3 Points on Why Bitcoin is Not the New Internet
Everyone who has been paying attention to the creation of Bitcoin, where it came from and the most recent development taking place of Ross Ulbricht they would know the Bitcoin will not be taking over the Internet nor does it have a chance at becoming the new Internet as many seem to think in the type commentary that has been spread throughout some lines of social media and underground chatter.
Point one is simply payment systems are structure strong whereas using the Bitcoin cannot give that same strength. Where bitcoin payments are free and not seen payment system transactions are recorded and will always be saved within that structures achieve should ever a customer question the transaction or were there to be illegal debit or credit card activity taken place it can be spotted along with the date and time of the actual transaction. Use of the bitcoin will not show any of the transaction information so it is quite dishonest to retail and service business owners for tracking production profits.
Point two; every credit card has a transaction fee which most persons who have a Visa, MasterCard, Discovery, or Amex are aware of. The credit card fee is a few cents as it handles you, the customer, and the transaction made of your purchase being made. What some persons may or may not be aware of is bitcoin also has a transaction fee but it works quite different. How this transaction fee works is to cover the purchasing cost of Bitcoins to consumers and the selling cost of Bitcoins to merchants. Furthermore, there are also are investors of the Bitcoin but the problem just as basic ecommerce it can go up or it can go down pending upon how much is in the market.
Point three; illegal activity is taking place using the bitcoin and it is quickly growing. For quite some time many have sold their items on places such as EBay without difficulty because it is simple to post an advertisement and simple to pay for the item using PayPal. There have been strong signs of financial regulations put into place that ensure regulations are followed and there be no illegal selling of any type yet because of Bitcoin those regulations are being ignored and scams are growing along with illegal drug sales.
In the end, consumers are better off using what has been proven to be solid financial value coins, cash, check, debit or credit cards. It is the smartest choice for being a customer and the most helpful to all business owners. It is a fair statement to say the Bitcoin may be active for now but the Bitcoin will eventually fade away as this the bitcoin payment is not worth handling to truthful business owners.