Bitcoin

Bitcoin Outpaces any Fiat Currency Payment System – Lawyer Turned Crypto Pundit Explains

Bitcoin Outpaces any Fiat Currency Payment System – Lawyer Turned Crypto Pundit Explains

Bitcoin continues to garner needed popularity in the global economy. It has to keep competing and convincing with its utilities in the payment industry before its adoption can be ascertained. However, a Lawyer turned crypto analyst has points to prove that BTC outpaces any fiat currency payment system.

There have been growing expectations that Bitcoin would overrule the functionality of fiat currencies in the close by future. BTC maximalists are up and doing in the campaign to educate and prove its utilities to global bodies, in order to speed up its global adoption.

Bitcoin, the largest cryptocurrency by market cap has faced stern challenges and criticisms from the maximalists of other assets, especially Gold. One of their points against BTC is based on its high volatility, thus bring them to conclude it wouldn’t be good as means for payment.

A host of countries of the world are making moves to ban or curtail the operation of digital currencies. Bitcoin has generally been their main target. The growth of BTC seems challenging to national currencies of nations like India, United States, China and others.

Facebook’s GlobalCoin also known as Libra is underway. This is seen as a big challenge that might unseat the king crypto Bitcoin in the cryptocurrency market, making Ran Neuner concluded that Mark Zuckerberg will soon become the most powerful unelected dictator in the world.

More pundits see Libra coin as a threat to Bitcoin’s functionalities in terms of payment. This is associated with the strong user-base behind the world’s largest social media, Facebook.

However, a lot of Bitcoin fans remain resolute that “Libra” will only come to complement the effort in place to fast-track the global adoption of cryptocurrency, and not to overthrow BTC.

Bitcoin is still stable above $9,000 support level. There is possibility of making another parabolic movement, but how soon is unknown. At the time of filing this report, BTC is trading at $9,277.24, with 2.06% 24H price increase.

Jake Chervinsky‏ Says Bitcoin Outpaces Fiat Currency Payment Systems

Jake Chervinsky, a lawyer turned Bitcoin maximalist took to twitter to hype the utility embedded in BTC in terms of payment, and how it outpaces fiat currency’s payment system

However, a contradictory response from a twitter user greeted his sentiment. Chervinsky‏ supported his claim with decentralised nature of Bitcoin. He said no fiat payment system can offer the level of free-will transaction offered by the digital currency.

Presently, Bitcoin is arguably the most performing asset in the world in terms of growth, topping other major assets in its chain. Crypto fans await its mainstream adoption, and Facebook’s Libra is on the course of being launched. A means to expand cryptocurrency awareness is quite on the way.

Disclaimer: Our writers invest in cryptocurrencies and it is possible the author of this article has investment in any of the digital currencies discussed. Some times author's presented information may be laced with opinions. Treat articles as mere information and not as financial advice.

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About the author

Solomon Odunayo

Solomon Odunayo had dispensed his writing ability on growing Eagles News Media, covering News for relatively 2 years as a founder and editor.

He now works with NewsLogical.com as a full time cryptocurrency Journalist and Chief Editor due to the experience he garnered over time in the crypto sphere.

Email: solomon.odunayo@newslogical.com, editor@newslogical.com.

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