Bitcoin- A Potential Threat To The Government?

The topic of economics is a very complex and hard hitting one. It is very interesting to study it and one from which you get to learn many new things and lessons on how big a role it plays in the world being a better place to live in.

Economy or, to make it more specific, world economy is an argument that is regarded as the fiercest of all and debates of contention amongst its experts and enthusiasts are such that they seem to have no end.

It has been generally seen that factors and topics that are based on opinion are the ones that can never be universally agreed upon. But the ones based on facts can and are agreed to by everyone, even its fiercest and staunchest of detractors.

There is a very thin line of gap between fact and opinion. Opinion is generally based on a particular individuals likes and dislikes. It is one that depends on the perspective of any person and different people have different perspectives on life and world as also its inhabitants.

On the other hand, facts are ones that are based on hard hitting issues and substances that although are based on few words but ones whose impact is extremely profound as its actions speak louder than its words.

Facts are the ones whose barks are worse than their bites. They can be said to be the bitter truth that nobody can or wants to accept in their lives and move on with it. It is a bitter pill that is very difficult to swallow but one whose aftereffects have a positive impact on the body and help in living a safe and secure life with a healthy lifestyle.

Why is it so difficult for any person to accept the truth based on established facts as it is in nature and move on? Why do human beings never accept that they cannot be right all the time and admit the mistakes that they make?

What makes them so high headed and narrow minded that they refuse to see things and circumstances as they are and refuse to register what they do not want to see?

The answer to the aforementioned question is basically their ego. Human beings are full of emotions- joy, sorrow, anger, love, hatred and many more manifestations. They generally like to be respected and appreciated not only by near and dear ones but also the general society.

Similarly, when you deviate the topic from man to machine you will find that things are no better as the situation is the same. Even machines develop laziness as far as work and their performance is concerned due to regular wear and tear over a certain period of time.

Today, we will discuss about this new invention of the modern era called bitcoin. Bitcoin is basically a digital currency that can be used for financial transactions but one which is deregulated and without a central bank to govern and monitor its doings.

After its phenomenal rise to the top, it plunged into sharp decline in just a few years with loss of market popularity and began to be seen as a fraudulent investment scheme designed to siphon off money from different users at the same time.

But why is the government not banning it or atleast declaring it as illegal? There has been numerous discussions regarding the same with many experts expressing their views on this topic in the form of articles with some claiming it to be an innovative creation too good to be banned or criticizing the government for turning a blind eye to the potendial dangers of bitcoin.

Due to its anonymous and secretive nature, it is more trouble than worth considered a lure for fools, a destructive weapon in the wrong hands, a jackpot for malicious and scheming minds. The government does not seem to ban it due to it still being popular amongst a section of people but disregarded by others due to the bitcoin era revolution.

We can only hope that the government takes constructive steps to atleast make it safe for use with security measures if not ban it.

About Oblena

Janica Oblena is the writer of ‘Midnight Secrets’. She is a graduate of Harvard University with a degree in Journalism. She is currently the senior editor of
View all posts by Oblena →