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BITCOIN - a Currency, an Asset or Something ELSE? [CryptoMinds Insights #4]

Crypto MindsMay 25, 2018, 4:28:15 PM

Nowadays, one of the main topics in the world is what exactly are the cryptocurrencies and especially Bitcoin. Even though Bitcoin is here for almost a decade, this question still stands. What exactly is Bitcoin?

In one point of time, Bitcoin was mainly known as currency, probably mostly because there is the word "coin" in its name. Also, because you can buy a lot of things with Bitcoin. You can even book a room in a hotel for the Football World Cup this summer in Russia.

On the other hand, Bitcoin does not have a physical substance. Bitcoin cannot be touched, torn apart or even burned like the ordinary money (even though in some countries it is forbidden to burn money). All that makes Bitcoin an asset. Financial asset.

For us, at CryptoMinds, Bitcoin is something else. In fact, for us, it doesn't matter whether Bitcoin is currency or asset. For us, Bitcoin is something bigger and more significant. Because we saw what Bitcoin really is.

Bitcoin has become a SYMBOL.

A SYMBOL of change. A symbol of decentralization. A symbol of freedom.

Bitcoin is already a part of the world history. The same way as the steam machine is part of the world history as a symbol of the industrial revolution. Bitcoin is already a part of the World history as the symbol of the high-tech revolutions, called Fin-tech.

It doesn't matter whether Bitcoin will reach new heights, nor how long the Bitcoin dominance will continue in the Crypto World. It doesn't even matter whether Bitcoin will survive after ten years or will be replaced by better technology that will put it in the World History Museum, somewhere next to the steam machine.

All that matters, is that Bitcoin will be remembered as the symbol of the fin-tech revolutions, decentralization and freedom. And who doesn’t like freedom? Well, I know we do.

Author: CryptoMinds