Economic Expert Chris Martenson Has Strong Views On Bitcoin
Chris Martenson, of peakprosperity.com, is an economic expert who has some very important viewpoints on cryptocurrency. None more famous than Bitcoin.
Bitcoin is a payment system which is based on software, and founded in 2008. It was introduced openly in 2009. In this method of payment, a public ledger is used to record payments and the unit of account is known as bitcoin. The US Treasury has named the bitcoin method as a virtual decentralized currency although it is not officially recognized anywhere.
Bitcoin is a form of digital currency and is also known as crypto currency. Chris Martenson, who is a former biochemical scientist, is currently a trend forecaster who has many views on bitcoin.
Chris Martenson View on e-currency Value
He believes the world thinks that bitcoin does not have any intrinsic value but this idea is wrong. Gold and silver are the universal metals which have a strong intrinsic value, but it depends on the fact that they are useful to a person at a particular time or not. The Bitcoin system, according to him, is a better method because it can become a standard payment system in all countries irrespective of religious, cultural or political restrictions.
The bitcoin system does not require trust and it cannot be counterfeited. The information of the owner is publicly known. No central clearing house is required for paying by means of bitcoin. This currency system can be used globally without worrying about the safety of the money whereas if payment is made through credit cards or debit cards, there is always a fear of breach of trust involved. The sender of the money and the receiver are directly connected through this particular system, and there is no need for any third party to facilitate the transactions between them.
The best part being the transparency can be brought in through the bitcoin payment system by providing wallet ids to the users and making them public. Hence, there will be no issue of breach or violation of trust as the tracking of the flow of money would be possible.
In this system, people will not be able to hide money illegally and cheat others.
Another great thing is that no one needs a bank account to make online payments through this method. Chris Martenson lays out features of a bitcoin system and its future prospects in front of the readers. By weighing the pros and cons of this system, this payment method may be used in the future by many countries through the use of its many advantages.
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