There is an apparent correlation between the usage of cash, and being excited about Bitcoin. Both forms of transferring value provide financial freedom, albeit there are some significant differences as well. But in these days of governments wanting to get rid of cash and opposing Bitcoin, it seems both worlds are bound to collide sooner or later.
It is not in the best interest of any bank or government to provide individuals and companies with financial freedom. These overarching bodies are designed to exert full control over one’s finance and future. When people have access to cash and other solutions, such as Bitcoin, they cannot impose their will and guidelines.
Granted, cash allows anonymity, which can be both a good and bad aspect. A lot of illegal activity is facilitated by cash, albeit that does not mean using paper money and coins are bad. Humans make up their own mind and bear the responsibility for their own decisions. How they decide to transfer value has nothing to do with the payment method being used.
To put this into perspective, bank accounts allow for setting up shell corporations and tax carousels. The Panama Papers highlighted the involvement of a lot of banks around the world. Moving large amounts of cash around the world is tough, as it will attract a lot of attention.
Getting rid of cash will not happen overnight. Although various countries are pushing towards using less cash, that doesn’t mean the option should go away entirely. Using less cash can be a good thing, but removing the option completely will create a lot of bad blood. People enjoy controlling their finances themselves even if it means dealing with cash, which is not exactly user-friendly.
Throughout the years, some experts referred to cash as being printed freedom. In a way, they are correct. It is a way to get out from under the tight control the state has on our daily lives. Bitcoin offers a similar opportunity, albeit it is distanced even further from the state, then cash is. Governments oppose both concepts as it reduces their influence, which is only to be expected.
Image credit 1
If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.
The crypto market is finally back in full swing and is abuzz with rising price…
Taking a look at the crypto market today, there's a lot of coin influx and…
In the ever-evolving landscape of technology, some companies rise above the noise, not just for…
In the ever-evolving world of cryptocurrencies, the concept of cryptocurrency trading bots has attracted a…
Dogecoin20 Launches on CoinMarketCap: Investors Flock to BlockDAG Following X1 Mobile Mining App Announcement in…
Do you know about BEFE? This relatively nascent coin is now the talk of the…