What exactly is bitcoin?
Which company is it? And who owns it?
In my journey through cryptoverse so far, a lot of people ask the these questions and go as far as to asking, will it not crash like the popular Mavro Mavodi Movement(mmm)??
Let me clear this with this post.
Bitcoin is the mother of all crypto currencies. It was the first to be created ever. Created in 2009 by Satoshi Nakamoto (a pseudonym for a person, place or thing that created the bitcoin). Nakamoto is not known and remains hidden but the world can not stop being bedazzled by the life changing currency or concept (s)he, or it birthed.
Built on the blockchain technology, the Bitcoin has grown over time to become a medium of exchange, a store of value and a means of payment, all at the same time.
The Bitcoin has the ability of rising in price due to market forces, the sole reason why people think it will burst like a bubble or come crashing down someday.
Quick question: why will something that is changing world economies, individual lives amd governments "burst", when Zimbabwe is dependent on it for economic recovery, growth and development? When in Vanuatu, you can pay for citizenship using bitcoin?when the Iran Government is working out modalities for its adoption? When the Nigerian Government is calling on pioneers in the space to come educate members of her apex bank? When Russia is a frontliner in the space? When the Chinese government is reconsidering their stance on crypto currencies mining and trading?
How will it even "burst" when you can fly Lufthansa and many other airlines with Bitcoin? When you can shop with Bitcoin on Amazon? When Dell, Jp Morgan and Expedia accepts bitcoin? When Bill Gates, John McAfee and other great business warlocks are "hodlers" of Bitcoin?
The thing is, most of us don't care to look at facts and just jump on the band wagon of popular opinion and block their minds to this beautiful world.
A world where you control and manage your own finances, a world where you can learn by your own self how to be a better money manager. A world where you can do faster transaction at reduced costs and under the most convenient conditions. Who would not want to be pampered by this world? Definitely not me!!!
The Bitcoin gets studied every second by more countries and let me quickly ask, if Bitcoin was 300k this very same time last year and ia hovering around 4m as we speak, and Nigeria bought and stacked away 1 trillion naira's worth, will there still be youths hovering joblessly around? Will there still be bad roads? Will there still be dilapidated hospital buildings and schools? I'll leave you to honestly answer these questions. And with this, i rest my case.
If you still think Bitcoin will fizzle out, you're on a long thing and wait to receive the shock of your life when Bitcoin will be adopted by The Wall Street( who e be? Google is your friend.