Bitcoin Is More Than a Bubble and Here to Stay. A Debate

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Description

In 2009, a person or group of people created Bitcoin, a digital currency. Unlike traditional currencies, which are backed by central governments that regulate their value and supply, Bitcoin is computer-generated and has no overarching authority controlling it. Today, Bitcoin and other "cryptocurrencies" are worth billions. Supporters of these cryptocurrencies argue that they will revolutionize global finance by placing control of currency in the hands of users, not nations, and make financial exchanges more transparent, efficient, and democratic. Bitcoin, they claim, is market-driven and safe. But is it? Critics argue that cryptocurrencies provide a platform for illicit activity, including money laundering, human trafficking, and drug dealing, free from government oversight and regulation. They further contend that Bitcoin has no intrinsic value and could collapse at any time. Is Bitcoin more than a bubble and here to stay?