There Is Bitcoin, What’s that Got to Do with Dollar?

23.12.2015

There are several reasons why dollar, which we got used to, will matter little, or under close scrutiny, won’t matter at all in the future, and in some way - today. Today we will discuss these reasons and try to give the grounds for these daring statements.
So, let’s take the classic pathway and get down to history. What does it tell us? It tells that centralized networks are carried out and worked-out human inventions not able to transform in response to intensive development of technological process. A little bit complicated wording but we will clear it up.
If you remember, rather recently, around twenty years ago, the world began to consider the term “Internet”.
Internet step-by-step, not at once, began to replace communicative antiquities (typewriters, snail-mail, printed products, etc.) Please note that changes weren’t instant, the process began but it is not over yet. The result is obvious, and it is more efficient and practical than the previous one. In other words, we underwent a web-technical revolution. With Internet expansion the applicability of old communication tools was reduced. Well, today Bitcoin is in the stage similar to the Internet twenty years ago and it provides new growth, web-financial revolution.
Nowadays people are interested in Bitcoin the same way as they were interested in Internet and e-mail in 1994; but after 22 years even elderly people are able to open an e-mail and surf the Net searching for a pie recipe.
Generally, Bitcoin follows the steps of Internet development. Influence on financial institutions, commerce and monetary system becomes very obvious, weighty and, the most important, nobody is capable of stopping the process. In fact, Bitcoin is kind of a sprout of the Internet. It represents new and heating imagination trend in Internet development.
As previously mentioned, evolution of Bitcoin has just begun, so it is impossible to predict its potential to be discovered, let’s say, after couple of years; however, it is clear that the cryptocurrency and the system of funds’ distribution among users, aka blockchain, is moving forward and progressing. Value of Bitcoin in dollars is around 200 % higher than a year ago. There is no one asset capable of keeping the same high rate under current market conditions; this fact proves evidence of e-currency’s value.
 
Dollar and Bitcoin are incomparable
 
 It is impossible to compare dollar and Bitcoin: it’s like comparing a classic letter with an e-mail message. Both carry information but further comparison is impossible – their nature is different! You cannot compare an odor and a color… You cannot smell a sound…
In the same way comparing Bitcoin and dollar is impossible – they belong to different fractions! Bitcoin is not limited with primitive territorial entities (countries, republics, regions and states); it is characterized by the decentralized distribution. Bitcoins can be used for any instant settlements anywhere and with anybody. Batches of documents and relevant information can be sent together with Bitcoins. Blockchain allows transparent accounting within any enterprise. These are not all advantages, but they are enough to note that dollar belongs to an absolutely different category.

The true value of a dollar 


We have nothing against the Americans; however, with all the respect we have to note that they, like nobody else, have to take a closer look at Bitcoin. All financial experts more or less agree that dollar has reached the boundary of collapse which may happen rather soon and become the very bleak event in the history of mankind. Moreover, it may become a tragedy of a larger scale. It would be an illusion to consider that world society doesn’t see the USA bearing pressure upon countries where American military camps are located (under various pretences). This is a stumbling rock; only the gunpoint targeted at those countries maintains dollar circulation; thankfully, time changes everything!
The year 2014 can be marked as a pivot point of dollar’s movement to its epic end. In 2015 a bank of international development BRICS was founded; five large countries (Brazil, Russia, India, China and South Africa) teamed up to give a finger to dollar. These countries have just agreed not to use the reserve currency and cooperate with no mediators. In general, launching such an alliance is rather consistent course of events. People around us aren’t stupid, are they? All of us are able to sum up and own calculators; it is clear that dollar has little of intrinsic value; therefore, it doesn’t insure business deals in any case. It is makes sense when an asset has lost its value, so it is ignored. Actually, the US government realizes the situation that is why there was no reaction on such a collusion of countries.
We are on the threshold very interesting historical events. Dollar is losing its validity – it is a question of the nearest time. Modern standard money gives way to cryptocurrencies, it is also a question of the nearest time.
It is frightful to think that there won’t be dollar! There will be dollar! But it will be on the same level like typewriters, newspapers and snail-mail compared to Internet now.
As for Bitcoin, it cannot be valued in dollars, tugrics, yens, roubles or any other monetary units. How can you value Internet? You cannot. It’s a common name. It cannot be valued as you cannot value, for example, radio. Much of the same is true of Bitcoin. Well, estimating Bitcoin in dollars is like weighing watermelons in meters.
We can just assume the course of events; however, we know for a fact that there are more arguments against dollar, and Bitcoin quickly wins recognition from the public. Well, it is up to you how you command finance: preferring a new advanced cryptocurrency or an old “handy” dollar.