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Bitcoin: A Two-Sided Currency

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We’ve all heard the phrase, “There are two sides to every question.”  We’ve also heard people say things like, “That person’s two-faced,” or “Two heads are better than one.”  What is civilization’s obsession with the number two?

Well, in looking at everything, it can indeed be said that there are two sides to everything, and bitcoin is no exception.  What many people don’t necessarily realize is that there are two entities that come with bitcoin.  The first is the digital currency that several of us already recognize.  It exists in binary code, and can be traded, sold and bought.

Then there’s Bitcoin… Notice the uppercase “B,” and this is because it refers to the technology behind the currency, not the actual coins themselves.  In other words, the blockchain; the special “secure Internet” as its come to be called that allows the digital currency to exist and flow like a river.

What also confuses some is the safety of each entity.  Often times, reporters or others in similar positions link bitcoin to illegal activity.  They call it fraudulent and unsafe.  Perhaps it can be argued that the coins have witnessed an increase in popularity amongst black market users, but this doesn’t mean that Bitcoin the technology has anything to do with what occurs in the world’s digital underbelly.  The technology behind the blockchain is considered incredibly safe; by some, the best and tightest in the world, so when bitcoin is labeled “evil” in some way, it could just be a simple case of misinformation.

Either way, for what it’s worth enjoy your bitcoin, and trust in the security its technology has to offer.

Nick Marinoff
Nick Marinoffhttps://www.livebitcoinnews.com/
Nick Marinoff is currently a lead news writer and editor for Money & Tech, a San Francisco-based broadcasting station that reports on all things digital currency-related. He has also written for a number of other online and print publications including Black Impact Magazine, EKT Interactive, Seal Beach USA and Benzinga.com, to name a few. He has recently published his first e-book "Take a 'Loan' Off Your Shoulders: 14 Simple Tricks for Graduating Debt Free" now available on Amazon. He is excited about the potential digital currency offers, particularly its ability to finance unbanked populations and bring nations together financially.

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