Why Should Economics Hate Bitcoin?

I'm really in the mood to write something anti - mainstream in the midst of the hustle and bustle of ' cult ' Bitco... thumbnail 1 summary
I'm really in the mood to write something anti-mainstream in the midst of the hustle and bustle of 'cult' Bitcoin that are taking place in the community - it turns out you! Not only president who cult like prophet by his supporters, even digital currency like Bitcoin too, have Bitcoin Defenders Front - are ready to revere revere digital currency and hit the plus bullying opponents! And I want to see whether the members of the FPB alias Defenders Front Bitcoin will be bullying me because write this post.

Many people who say Bitcoin is a breakthrough new ideas and technologies in payment or online transactions, to facilitate and minimize transaction costs and others. I myself agree with it, Bitcoin is an interesting idea and technology to learn and continue to be developed. But to worship him as the savior of the world economy? Wait a minute ...

This article actually comes from the idea when reading "4 Reasons Why Economists Should Love Bitcoin" - let up!

4. Making Process Bitcoin Trading Far More Difficult

Bitcoin Makes Trade Easier, said worshipers Bitcoin. On the one hand, as someone who often conduct online transactions, I do not agree! In fact it is very easy to make transactions based Bitcoin for them - veterans who already know the ins and outs of Bitcoin, but not for those who are new! They are still clouds, still prefer to use Fiat to transact online is far more than lovers and devotees Bitcoin itself.

Please see the process, how when someone in Malaysia will make transactions based Bitcoin. First he must redeem wangnya be Bitcoin exchange services through purchase or service bitcoin, after getting a new Bitcoin he can perform transactions with merchants that accept Bitcoin for its products.

The problems confronting the buyer is, for example, he redeem $ 100,000, - into Bitcoin, after getting Bitcoin, and then he headed to the merchant for purchase by using Bitcoin - just before he got to the trader, the price of Bitcoin vs. dollar rose, so that Bitcoin it has been not worth $ 100,000, - again

The only way is to have a Bitcoin in excess of the value of goods or services to be purchased, for insurance if the price or value of Bitcoin fell to Fiat.

And what about the merchant?

3. Bitcoin Inhibits Growth -

It Can Help Developing Economies, he said! Are you sure? So far, we have always stared in awe when there is a business that accepts Bitcoin for products or services which he has to offer! One thing that has always been denied by the devotee Bitcoin is ... The businesses that accept Bitcoin is actually not sincerely adopt Bitcoin for business.

Those businesses that accept Bitcoin? Yes I Do! But they then exchange it for Fiat directly from falling victim to the rise and fall of the value of Bitcoin Fiat!

Take for instance you are a business person who accepts Bitcoin and offer your products or services worth $ 100, - with the exchange rate is now a buyer pays you with 0.5 BTC - then what will you do with the Bitcoin? You keep it in the hope its value will rise against the dollar? So you get more profit? Or you directly sell or menkonversikannya be Dollar in order not to get caught when the price of Bitcoin fell against the dollar? Mostly, almost all businesses directly Bitcoin exchange they get into Fiat - why ask why? Due to operational costs and also the production of goods or services they use Fiat! Is suicide, if they take the risk of uncertain benefit to linger longer save Bitcoin.


Of points 3 and 4 - Economic growth will occur, if a lot of people and businesses use their Bitcoin transactions, but let's look at reality? And the reality is Fiat still be ruler in every transaction.

2. Bitcoin Full With Intrigue Manipulation Greed

Free From Political Manipulation, this one is really quite irrelevant to the reality that is happening!

Can not power politics of government manipulation or intervention to Bitcoin? Highly can all! Do not we see what's happening in China with a monetary policy rule that led to the original Bitcoin price breaks $ 1,000 into fall and never get up again until today?

Those who do business based digital currency Bitcoin and other encrypted really was not entirely safe from the reach of government intervention aka ruler! The closest example is the business of trading and exchange services JustCoin newly out of business recently? Why are they out of business? Due to the insistence of the government authorities - Banks that they use would not accept funds from Bitcoin transactions and other Cryptocurrencies.

One thing to remember is - Bitcoin volume in circulation today is not as big as the volume of Fiat. Most of the current Bitcoin controlled or owned by only a handful of people or business entities only. They are the whale, the whale - which can manipulate the price of Bitcoin at will for their own benefit. Evidence is very clear, why Bitcoin prices vary from one exchange to another exchange? Why can not such as Forex or foreign exchange market whose price is always the same? This is because the amount or volume traded Bitcoin is not as big as had happened in the Forex market and trading volume is largely or almost entirely rotating among the whales alone.

The slogan "Bitcoin is its Digital Gold Internet, price will further increase because stocknya diminishing returns" is gombalannya those who have a service or selling the service Bitcoin course, to attract people to buy Bitcoin. hehehe! Then ask why the current price of Bitcoin is only a circuitous course be honored for that now? Why Bitcoin prices do not go up gradually along with the increasing difficulty of mining? This is because there segilintir people - Bitcoin ruler with large capital markets with an agenda that drives the profit for himself.

1. Bitcoin is an interesting experiment.

It's an Exciting Experiment, well, if that is I agree! But the economic actors would be very careful with this one. The principle of economic actors is "With minimal effort, as easy, as sure as possible for the benefit of magnitude"

Whose name is an experiment or experiments would not be separated from the name by trial and error - This error will always occur in a process of trial. Bitcoin and Cryptocurrencies itself is an experiment without end ... and as stated by the developer themselves about the risks of this experiment
".... You should keep in mind that Bitcoin is a new invention that is exploring ideas that have never been attempted before. As such, its future can not be predicted by anyone."

An experiment with the results or output that can never be sure! Only they - the high risk taker who dare to take risks to get into it - and for economic actors with economic principles mentioned above .... certainly choose better step aside or step aside, nyemplung nyemplung little with one foot - - and no single person has the right to ask them to nyemplung entire body aka swim in the stream is uncertain which direction to which is, to a tranquil lake and beautiful? or to a steep waterfall and off.

Uh, by the way? You koq seem to hate with Bitcoin? Bitcoin hater ya?

Errr ... just like I do not hate Mr. Najib became Prime Minister! I have no problem with Najib, my problem is in the fanatical supporters who want good and truth itself, forcing forcing and calling the name calling people who do not share their living space with them! (companion? emang duck?)

Likewise with Bitcoin - the supporters and admirers it loh!

Thus ... if they receive a salary by fiat, still buy - breakfast, lunch, dinner by fiat, pay taps, PLN and other bills receivable by fiat ...... never mind think of Bitcoin none other than fiat another version so ?

If they are able to apply Vires In Numerical. Crypto anarchies - Eliminates completely fiat role in his daily life .... if you dare: P --- new please their adoring fanatics revere anything against Bitcoin

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