Bitcoin have won so many battles but is now faced with a new battle threatening the very first reason it was invented.
Though bitcoin have digressed and deviated from the primary reason why it was invented, many of her users still have it for that same reason, “using bitcoin as a means of settling payment in peer-to-peer system without involvement of censorship or third party.
Today, bitcoin faces another challenge threatening her existence and wide acceptance as a means for payment, the very creation to solve her volatility problem have become the arch-enemy threatening her stronghold over been accepted as a means for settling transactions, to be left alone in the race as an ever volatile commodity where her value is been controlled by Market Movers alone instead of also been valued by how much acceptance it is been used for settling transactions and making payments.
This alone have put bitcoin in a place that she have to battle her way out back to track.
Though Bitcoin have encountered and overcome so many battles, some of her battles still lingered on connecting each other in allies forming a greater and ever bigger storm against her.
The very solution to solve her volatility problem have become the very thing threatening her very stronghold as a commodity for payments over transactions, Stablecoins. Stablecoins is now becoming a defacto for settling internet transactions that western banks have acknowledged her presence allying themselves to have a central pool outside Federal Reserve of the United States of America or the Euro Dollar, mimicking USDT (USD Tether), the very first stablecoins introduced by Bitcoin. Another participant in the war over internet transactions are other economic powerful nations coming up with their own digital version of their currency called CBDC (Central Bank Digital Currency). As these nations fight for supremacy in global trade, this gives bitcoin the edge to emerge as a big player in the Financial Sector of the Global Economy because she is not restricted neither is she regulated by any one nation till date giving her an unannounced acceptance. This gives her a unique identity to standout as an Internet Universal Currency as a legal tender, mined owned and used by anyone internet user.
The battle have begun and we will continue to see how the turbulence of financial battle goes on, but we as Bitcoin users should not seat to keep our hands crossed to see how far it will go as we are also major players in this battle to make sure Bitcoin also standout as an accepted and reliable currency made by Internet users and for internet users alongside any who wish to accept it into her physical system.
Let’s see where this battle will take us to if the whole world will end up using one digital currency or multiple digital currencies some centralized, some regulated and others uncensored.
Bitcoin, the number one decentralized currency for the internet and by the Internet.