The main pros and cons of Bitcoin: version Director-General Forbes

During the ten years of its existence, Bitcoin tried on several images. It was called digital gold, magic Internet money, the currency for criminals and many more names. In this case, fans of cryptocurrency are almost always primarily considered as a way of dealing with corrupt elements of the traditional financial system. Whether governments or big banks are crooks.

Steve Forbes, Chairman of the publishing giant Forbes Media Group and editor in chief of Forbes magazine came to the defense of the values and functions that offers Bitcoin. First he wants to persuade all those representatives of traditional financial industry, who believe Bitcoin is catastrophically huge Scam additionally out of control.

Sunday consulting Agency on financial technologies and investment Invest ARK released their latest episode of their podcast. Podcast the guest was Steve Forbes. The entire issue was focused on traditional markets, politics trump and the evolution of media. However, at the end of the episode host, and concurrently the Executive Director of the ARK Invest Kathy wood asked Forbes about what he thinks about cryptocurrency and Bitcoin in particular.

Let me remind you, ARK Invest is renowned for its positive attitude towards cryptocurrencies.

To everyone’s surprise, chief editor of Forbes, said that Bitcoin is “a high-tech cry for help”. Immediately after that, he started talking about a growing distrust of governments and national currencies. Statements were.

Bitcoin played a very important role in helping people in distressed situations around the world. He gave the ability to bypass government restrictions and the greed of financial institutions who want to control you, to force you to starve and hurt.

Listen to the podcast at the link on the official Twitter page of the consulting company. Here it is.

Although Forbes has classified the largest cryptocurrency as a tool in the fight against corruption at the highest level, a media guru still recognized the challenge of Bitcoin and other cryptocurrencies. As he says, they “must first become as reliable as classic and familiar all gold“. In this respect, the advantage of Bitcoin is that it is virtually impossible to crack. However, the coin need to get rid of its inherent level of volatility.

By the way, this isn't the first time in the podcast ARK Invest sound laudatory odes Bitcoin.

For example, Tesla co-founder Elon Musk also spoke in favor of the cryptocurrency. As he said then, cryptocurrencies are a great invention, which helps to get around strict currency controls in countries like Venezuela, whose government oppresses its own citizens.

There are other benefits

Bitcoin is not only a tool to combat authoritarian governments, but also an excellent candidate for the role of hedging (i.e. insurance against risk) against inflation and irresponsible fiscal/monetary policy.

Source: 2Биткоина

In a recent interview on the topic of Bitcoin from Bloomberg editor and investment strategist at Jarden of Dillian said that the “philosophical core” of national currencies has never been so close to failure. In his view, governments are moving to a model that is known as Modern monetary theory. In simple terms, is to”print as much cash money as the government needs to Finance its own expenditure”.

This transition, according to Dillian will be extremely bullish for Bitcoin, since people will increasingly want to get rid of any of the currencies subject to significant devaluation — that is, depreciation.

The current rate of coins you can see in our class ranking cryptocurrencies, and in cryptodata of hontarov there are still a lot of other useful information.

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