RATE Group | The demise of bitcoin has been greatly exaggerated 
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The demise of bitcoin has been greatly exaggerated 

31 Jul The demise of bitcoin has been greatly exaggerated 

Posted at 13:00h in Bitcoin News by

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Bitcoin is a borderless digital currency that eliminates the need for a bank. Therefore, understanding this concept hinges on conceiving financial transactions without banks.

Jack Guez | AFP | Getty Images

Bitcoin is a borderless digital currency that eliminates the need for a bank. Therefore, understanding this concept hinges on conceiving financial transactions without banks.

Perhaps less surprising is that predictions of bitcoin’s demise fail to account for technological factors. Bitcoin is, after all, technology, but you don’t have to be a code-writing nerd to understand its purpose and use. What’s more, you do not need a degree from MIT to grasp the concepts underlying blockchain, the open-source technology that serves as the currency’s vehicle, or how bitcoin has evolved since its launch in 2009.

Rather, you just need to understand the impacts of this technology from a practical process standpoint. This perspective is characteristically lacking in high-level business discourse on the subject and nonexistent in popular discourse…

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