This article is about fairness, friendliness, and futurism associated with bitcoin. While the source of inspiration for this article was derived from a Deloitte study with a similar title, it is entirely different from what other popular media shows you. The most notable thing to find in it are the counter-arguments of popular anti-Bitcoin community’s points that will surely floor everyone interested in Bitcoin with the fact-based points of view and a ‘ready to impress’ tone of voice in support of the most likely future currency the humanity has ever seen till now.

The fight between Bitcoin-lovers and sceptics does not seem to settle anytime soon, but as a member of the former gang, we feel we should take a truth-based route to uncover some awesome features of Bitcoin – something that has not been discussed on popular media channels lately. However, the problem with Bitcoin is that both its supporters and the anti-Bitcoin gang are overwhelmingly active on the web. So, there are fair chances that what we discuss here now might be available on the web already. Still, as a responsible Bitcoin enthusiast, we think we must do the righteous to prove the super awesome utilities of the strong new currency propelled by the robust Blockchain technology.

Starting with that aim, we started researching for some inspiring information about Bitcoin that are credible and written with reliable facts. Doing so, we stumbled upon a very informative and truthful article about Bitcoin from the Deloitte Insights team. While we were impressed with the way the article removed the false clouds surrounding the real facts of the cryptocurrency that has taken the imagination of the Gen-Y by storm, we felt we must also let people know about the smart features of the most popular cryptocurrency in the world.

But, we did not want to write a copy of the article and decided to throw some light on the gist of the entire story. However, being floored by the ‘3F’ factor, we imagined something that will rightly represent the story without making people too clingy. That made us think and realise that there are still three more Fs that can represent the flooring digital cryptocurrency in better terms. Although the Deloitte article did talk about these 3 Fs we are going to discuss here in detail, the only problem is that they did not mention it clearly in the write-up.

As die-hard fans of Bitcoin, we thought let’s bring it on the web. Here, they are.

Bitcoin is Fair

While we do not take the Bitcoin sceptics seriously enough, we do think that it is entirely baseless to term Bitcoin unfair. The foremost reason why the ‘anti-gang’ terms Bitcoin unfair is because they think it is speculative, gambling-like, and a bubble that can burst anytime. They term the enthusiasm of Bitcoin-lovers as something like the Tulip Mania, which is equivalent of terming Bitcoin as unfair, unscrupulous and baseless. Here’s why Bitcoin is not anything like that.

Bitcoin is the purely technological currency that runs on Cryptography, and true mathematical principles back it. Those who say that Bitcoin has value only because people trust it should know that every currency, including the fiat ones, are useful because people trust them. Even fiat currencies will lose value if people start doubting them and that inevitably happens during the recession and high inflations.

The central banks issue fiat money because people trust them, and the entire process is dependent on demand-supply economics. The same is true for Bitcoin. Although there is no central bank to issue bitcoins, people cannot just carry on mining bitcoins as the limit of a maximum number of bitcoins is set at 21 million. So, Bitcoin is not a baseless or an ‘imaginary dream’ that sounds like a currency — although it does not have a green paper to show that it is real money, it is real money.

Now, about the next of the reasons, namely gambling, we want to ask you do you know who ensures that there is no gambling in the use of fiat currency? No one. If you think that way, the Stock Exchanges are also a pure form of gambling, but we do not want to say so. We know that trust and faith run the world and that is why even if you just fathomed that Bitcoin is gambling, it’s just because you have learned only a half about this fair and fabulous digital money.

Now, about Bubble, people have been saying this right since 2009 and till now, the so-called ‘Tulip Mania’ has never let people down. In fact, Bitcoin is increasingly making more and more millionaires every year. If a bubble can do that and stays intact forever, then you should be proud that this bubble is not made of a thin layer of water. Instead, it is built with pure nylon that will never go bust.

Bitcoin is Friendly

That’s something hard to believe, right? Many people think that Bitcoin is entirely a complex concept they can’t understand, and it is so technological that a layman won’t find it any user-friendly at all. That is not true. All this notion has built up because people often come to know that Bitcoin is run by Blockchain which is a pretty new technology for common people. Moreover, when we say that there is elliptic cryptography in calculating bitcoin’s value, people get more confused. Please be aware that as an investor or trader, you do not have to deal with the core of how Bitcoin works.

You can start using bitcoin with a wallet that is similar to current banking wallets. You need to know how to make transactions, and that is nothing harder than transacting online with the internet banking system. Once you get to know the address of your bitcoin account and the one to whom you want to send money to, it is all just like a child’s play.

It’s similar to ‘Email’ that was hard to understand during the 90’s, but now even a toddler knows what an email is. So, thinking that Bitcoin is not user-friendly is just a fake truth that plagues many people from benefitting off the robust Blockchain-backed technology that makes life airy and less complicated.

Bitcoin is Futuristic

This is probably known to all. Just think about the world’s most promising and potentially best accounting and financial management technology called Blockchain, and you’ll readily realise why Bitcoin is built for the future. It is completely a cashless and digitally secure form of currency that is immutable, self-recorded and completely anonymous when desired.

It is also 100% ‘peer to peer’, meaning that you don’t have to depend on a bank or any other regulatory mechanism to send bitcoin across to anyone else. That means the cryptocurrency is devoid of any geographic, economic or political barrier and more surprisingly than not, there is no question of any form of identity to let people engage in Bitcoin transactions.

Can you find any other better system that preaches the futuristic factor of ‘equality’ than this? If you can, we can bet it will be something like Bitcoin itself.

We sum up this write-up with a 4th F. That is, Bitcoin is also ‘Fantastic’.

Sincerely yours,

CINDX Team