Kevin Pham Doubts If Bitcoin Will Actually An Improvement That Will Better The World

Ritika Sharma
Ritika Kumari Sharma is an Economics Honors graduate from the University of Calcutta. She is completely into finance and believes that cryptocurrencies are the future. She is an enthusiast learner about the cryptocurrency and blockchain technology.
  • Kevin Pham has tweeted asking if Bitcoin (SV) is going to change the world as most people put it to be.
  • Money laundering is an authentic problem that many of the significant cryptocurrencies are working hard to solve and funding criminal activities using digital currency.
  • Bitcoin has brought improvements to both finance and the internet and brought financial services closer to people without needing to have a bank account.

Founder of Hold Wells Fargo Accountable movement, and Bitcoin SV proponent, Kevin Pham has tweeted asking if Bitcoin (SV) is going to change the world as most people put it to be.

He then questions if hyper-efficiency is really what the world is looking for and calls for the SV community to stay grounded as the proverb goes, “The path to hell paved with good intentions” and the whole Bitcoin run might bring forth more problems than it stands to solve.

Part of Pham’s comments makes more sense when considering the massive amounts of illegal activities that anonymous, decentralized forms of payment bitcoin have facilitated.

Money laundering is an authentic problem that many of the significant cryptocurrencies are working hard to solve and funding criminal activities using digital currency is more comfortable due to its decentralized nature and lack of a single regulatory authority.

The response to Pham’s tweet seems mostly negative as people disagree that Bitcoin could be a path to more evil than good. Bitcoin has brought improvements to both finance and the internet and brought financial services closer to people without needing to have a bank account.

One Twitter user stated that although hyper-efficiency, as Pham questions, might not make people happier, the equal financial opportunities that accessible digital currencies like Bitcoin will provide are bound to make everyone more comfortable.

Most people seem to believe that Bitcoin might not solve all of the world’s problems, but it sure makes it a better place in some ways more than it was, like with finances.

Pham later clarified that his take on Bitcoin was that it would be a collective good in total, but there will be a lot of unforeseen issues created along the way.

Bitcoin and other digital currencies are doubtlessly the next milestones in the evolution of value and trade, but it is certainly not the answer to all problems.

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