They are wrong.
Bitcoin is still in a pre-early adoption stage; its current price is no where near where it will be when the world discovers the vast applications of this new technology. The financial system as we know it will soon become a thing of the past.
What will banks be needed for? Their traditional function of keeping money secure is already built into the Bitcoin system (as long as simple precautions are taken). Banks’ and credit cards’ role as payment processors will become an unnecessary redundancy, as bitcoins can be transferred at much lower fees. What about loans? Capital can be accumulated using bitcoin much more efficiently with P2P technology.
Yes, it is a payment system, but it is also much more than that. The Bitcoin system will heavily mitigate the need for lawyers and accountants because of its reduction in need for third parties. If you buy, say, a land title in bitcoin the transaction will be part of the public ledger, making a public bureaucrat shifting papers in filing cabinets irrelevant. And that’s just the beginning.
This technology’s eventual effect on society has been compared to that of the combustion engine.
Make no mistake about it: the purchasing power of bitcoin is massively undervalued, making it a very attractive long-term investment. However, it is also very volatile, which is to be expected.
To help people maximize their gains with bitcoin, we have written a guide that explains the best strategies in how to make the most out of these fluctuations: when to buy, when to sell, as well as personal consultation to help you meet your investment goals.
In addition, we have a 100% satisfaction guarantee in which we will refund your purchase price if you aren’t completely satisfied with our guide.
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