I read a number of articles and even read several forums discussing what bitcoin is.
I made this post because many of my friends don't understand what bitcoin really is, and I made this thread to be my Boomark to be read by my friends.
Discussions about Bitcoin are very much discussed on each site if we look for it on "google.com".
But each site certainly has a different view of each site visited, such as:
- On the wikipedia site I read that bitcoin was discovered in 2009 they said that Cryptocurrency was a form of electronic money and bitcoin was made by a group of people whose identities were unknown.
- While the blockgeeks site said that bitcoin was discovered in 2008 they said Occupy Wall Street accused large banks of abusing borrower's money.
- While on the weusecoin site said that Bitcoin was published in 2009 and Satoshi Nakamoto made a statement that he had left the project in 2010, but now Bitcoin has mushroomed in all countries.
In this forum, many have different views about what is bitcoin?
The Central Bank of Israel considers bitcoin an asset, not a currency. The Deputy Governor of the Bank of Israel Nadine Baudot-Trajtenberg (Nadine Baudot-Trajtenberg), speaking at a meeting of the Finance Committee of the Knesset, said that in the opinion of the Central Bank of Israel, crypto-currencies, including bitcoin are the currency and asset.
I have a question ladies and gentlemen why they think so?
Of the few quotes I read, many were different and had their own views.
However, it is necessary to do your own research according to the criteria of each, so that there is not much wrong in making the meaning of Bitcoin.
Hopefully this will be a reading discourse for my friends.It was done in 2008 but entered public use in 2009 with that famous Jan 3 block that has the news paper headline of the day. And Satoshi disappeared about a year later, so they are all correct. You are in Satoshi's forum and you can read his/her/their messages by yourself.
Some governments and institutions consider bitcoin an asset because its so different to their concept of money (fiat). In reality it is currency of a different type, not identical to traditional fiat, but not mere asset either.
Of course, if you minted gold coins in your country (again), you could have the argument. Coin or asset? Sometimes hyperinflation destroys the monetary value of (physical) coins, and before they disappear their cost in metal becomes more worth than their printed monetary value, so they are bought en mass and melt for resale (often illegally, but you can't stop the market). So there is one example of a currency becoming asset.
Often there simply isn't any adequate legislation. If you think its an asset, you are missing the whole point, or deluding yourself. But as a politician, it make make more sense that way. Because of the nature of bitcoin, the "asset" concept seems to have merit, but this is only true in the beginning. The more time it passes, the less asset it is. Of course, being deflationary, it will always be a way to preserve value, as opposed to fiat losing it every year on purpose by those that control it.
Thankfully, no one controls bitcoin, and anything politicians decide in reality changes nothing of Bitcoin, its code is written and executing as intended.
