BTC is no longer perceived as a criminal currency

BTC has been called in many ways during its relatively short existence. BTC was most often described as currency on illegal markets for all sorts of criminal elements. Nowadays, however, the rhetoric has changed for the better.

No criminal currency

BTC is a decentralized cryptocurrency based on blockchain technology that is not subject to any financial institution or government around the world. In connection with the mysterious origins of BTC, public prejudices about this new form of money were understandably unfavorable.

Of course, there is no denying that the world’s most important cryptocurrency continues to be used for illegal activities around the world. However, many surveys and studies have shown that this is a completely marginal issue.

BTC is not untraceable or completely anonymous. It is a decentralized, traceable and pseudo-anonymous payment system built on a blockchain. Each payment is therefore recorded in the “ledger”.

All transactions are open, which makes BTC a highly transparent and secure payment tool. Looking back this year, El Salvador will be the first country in the world to use Bitcoin to buy goods or services.

For most of the onlookers, the cryptocurrency suddenly moved from its deep ties to the darkest parts of the Internet to create a brighter future for the citizens of developing countries. Citizens of countries affected by more than double-digit inflation consider BTC to be an absolute miracle.

Conclusion

The narrative about the world’s most important cryptocurrency has changed over time, fortunately for the better. In the beginning, it was just a “thing” for hackers and programmers, then currency for criminal elements, and then a fraudulent asset or bubble that would soon burst. At present, however, BTC is referred to as a good investment opportunity or store of value in countries affected by high inflation.