The Problems with Bitcoin According to a Famous Billionaire & Why GODcoin Will Rise Above

godcoin (58)in #money • 5 years ago

Are you familiar with the term cryptocurrency? If you are newer on the scene and feel confused about the term, you are probably at least aware of Bitcoin. It became quite popular after its price skyrocketed and some fortunate enough to have invested made a killing of a return. From Bitcoin's creation in 2008, it has seen what appears to be many smaller ups-and-downs taking everyone on a suspenseful rollercoaster ride. However, the most memorable years are probably between 2017 to 2018. From Wikipedia, the "prices started at $998 in 2017 and rose to $13,412.44 on 1 January 2018,[37] after reaching its all-time high of $19,783.06 on 17 December 2017.[63]"

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As amazing as some claim the cryptocurrency will continue to evolve into, it has many of its own problems. A famous billionaire, investor, and American businessman, Mark Cuban, has recently decided to speak his mind about these problems. In a Forbes article he was quoted stating:

Bitcoin, according to technology billionaire Mark Cuban, is 'too difficult to use, too easy to hack, way too easy to lose, too hard to understand, [and] too hard to assess a value.'

But Cuban has warned that, despite all those things, bitcoin could still succeed if it could only overcome one serious hurdle—getting people to actually use it.

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These are some valid concerns Mr. Cuban stated about Bitcoin. We have seen it hacked and stolen. Over the past few years, we've seen people lose their investments, and many are still not as familiarized with cryptocurrency and certainly do not use or accept Bitcoin as payments. There has been more exposure and acceptance recently exhibited around the world, but then there have been concerns with the government getting involved and trying to regulate the decentralized currencies. Another major issue is that it has no backing, especially when the U.S. dollar could collapse or is phased out in the near future.

Now, Mark Cuban is not yet aware of GODcoin, but that is because GODcoin is still in the earlier phases of development. However, GODcoin will rise above because it has learned and taken from what the pioneers have established for digital currency's future. The trend is going towards a cashless society, and as technology advances, we will see only those with a solid backing survive. GODcoin will be backed by the precious metal gold. Gold has always been revered as a highly sought after item as it holds its value. Not only that, but it does not require the environmental taxing that Bitcoin mining requires and demands on the grid. GODcoin does not require mining so it will be eco-friendly with its method of minting.

So, as we see cryptocurrency becoming more accepted, be sure to invest in one like GODcoin where it will rise above due to its asset-backing, security, ease of use, and efficiency. Don't be left behind, invest in your future today!

This article was authored by Judith Monte, @belovebelight

There are many advantages to GODcoin especially since it is one of the few coins that will be backed by gold and silver. Not only does GODcoin offer the illuminated path towards a prosperous future, but very soon, it will be the global currency. To learn more, visit the following links:

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