IS The Payment of Digital Currency A Pseudo-problem?
When it comes to digital currency, views tend to be divided into two extremes. Some think that’s a fraud while the other claims that’s a revolution. However, the fact is that digital currency is a tool, and lots of problems are not supposed to be solved by that.
Satoshi Nakamoto said in his essay digital currency is a peer to peer electronic cash system, which provides digital currency with functions to solve some transaction problem, such as double spending, privacy protection and cross-border trading. And the realization of the functions requires digital currency, (whatever the coins) equipped with a certain value. Therefore, bitcoin begins to have value, and achieved constant rise in price.
Bitcoin, as a trading intermediary or carrier, how much it values has long been in controversy. The debate on this issue is largely a major contradiction of that on bitcoin’s price. From the perspective of the pros, bitcoin will occupy vast market shares, but the cons think bitcoin has no value, it’s just a fraud
This post was published at Bitell on October 27, 2014.