Bitcoin Bubble – The Digital Money
Abdul Waheed | On 30, Dec 2013
Bitcoin is a new concept of trading money with coins and it’s like dealing with virtual money just like online banking when there is no real transaction of original money is taking place. In the same manner, when trading is done with Bitcoins, there is no proof of any transaction either. Bitcoin bubble is a name that is given by people who think this concept is going to work and it will revolutionize the whole world and business methods. At the same time, a huge number of people especially related to financial fields, think it’s not going to work and within few months, it will be vanished just like many other concepts and inventions.
Bitcoin money has received mix reviews and opinions such as Germany is considering it as “unit of account” and Dutch decided to compare it to tulips in order to mention how stupid this idea is. Whatever people say, this concept is going to be something as there won’t be any proof of each transaction so it’s a great catch for money laundering and transferring secret funds to foreign accounts.