Average Joe’s Opinion on Bitcoin
This is the second video of a series where we interview and talk to people regarding Bitcoin and their view on cryptocurrencies. TokenPay believes that the road to mass adoption lies within educating the general public about blockchain, cryptocurrency and it’s many advantages.
I heard about it a few years ago. I know that it involves blockchain, which is a way of storing data in multiple locations, which is how you can kind of break up large amounts of data and have it stored safely in multiple areas and then Bitcoin is basically just confirming, that you have this data. The problem is, it’s an unsecured currency that is based on the shared data amongst multiple people but there’s been no great way to store it.
There was the large Bitcoin theft that took place number of years ago that shut down with a largest Bitcoin banks. There you know digital wallets, that need to be protected and then people forget about them. So the problem is as an unsecured currency, it’s based on the idea of investors and not backed by gold which means that it’s always subject to fluctuation which means ten years from now it could be worth a hundred thousand dollars each or it could be worth five cents.
That’s not really a great way to kind of you know, plan out your future on the ups and downs of you know what, some rich guy on Wall Street thinks it’s gonna do that week. Well I mean, because the problem is, that’s exactly it it’s based on what someone might think. If the investors think it’s good, they’re gonna pump money into it. It’s gonna be worth more. If they don’t, it’s gonna crash.
It’d be worth less, so literally it is the expression of people’s belief in it. It’s worth and that is I don’t know how do you judge that, how you’re gonna like, how many people believe in God? How many people believe in angels? How many people believe in UFOs? How many people believe in climate change, which is a scary stupid one but there you go.
So at the end of the day, since it’s all based on belief, it’s gonna be how great people believe in it. Ten years ago it was just an idea, ten years from now they’d be another idea that was came and win.