by Verdzekov Bernard
Just to think of the fact that everything could be stored in the blockchain and the system made strong and save, that will be great. Why do I say so? If everything is recorded on a blockchain, let us say automobiles of all kinds are registered, real estates, drugs, food, furniture, cloths and shoes and all necessities of man that needs that they purchase, that will be made great and easy. Once negotiations have been concluded and it is time for payment, a code is scanned on your phone and the required Bitcoin to purchase that particular good is deducted. Despite the fact that the good has been bought, it has also been recorded in the blockchain and could be referred back to in case of any emergencies. This is more save that dealing with direct cash money.
Why say so? Imagine your car is stolen and it is being caught by the police and they say both of you should give evidence for the stolen car. You who bought the car with bitcoin and it was recorded in the blockchain and you presenting just a writing document that could be forged at any time, the person who presented the blockchain transaction may be heard more than you presenting just a receipt. Why say so? The code of the car at the time of the purchase was recorded and that can hardly be forged. But with just receipts, that could be made anywhere and presented.
If this kind of system is to go into existence where money is no longer used to purchase goods, just bitcoin, that means, all goods made from their factory will have to be given a code which is unique and recognized by the blockchain.
BTC became so popular because of the illegality that surround it. Today, you know it because of how widely it was used for illegal transactions.
How the internet came into existence and many didn’t know about it, that is how bitcoin is today. The internet took long before it was widely used and understood. Many didn’t know about it; many didn’t know how to use it. But today, the world is happy the internet ever came to existence. This is the part in which I think, bitcoin is now. The internet changed the way people communicated; bitcoin changed the way money works. Basically, you can put a bank in your pocket today.
The government could never change a mathematical problem. 2+2 will always be 4. That is bitcoin. But with money, it could always be manipulated. And how bitcoin comes into existence, is when miners mind. When they mind and solve mathematical problems, they are being rewarded with bitcoin. But with money, it could always be printed. Bitcoin is internet money and it is the first internet money to have existed.
Bitcoin is the future.
Have you ever thought of situations like natural disasters that causes a lot of pain and misery? we never pray for that but in situations like that, People go broke. Banks and many financial institutions are destroyed and people are unable to cash out their money from this financial institution or banks to buy food or medicine. But with Bitcoin, earthquakes or NO earthquakes, so long as you still got your phone, you can transact and get what so ever you want.