When bitcoin was initially created, people got excited about the concept that consumers can freely transfer money online to anywhere without going through financial institution. Then, there were a few publicized incidents where personal financial transaction records were being monitored by governments. Even if their actions are legitimate, people dislike this, and this scandal boosted the people’s interest in bitcoin, which guarantees a safe encrypted currency.

Also, bitcoin claims that there are minimal transaction fees, which could save a lot of money for many people. This is a strong advantage of bitcoin because people want to maximize their profit and savings. Another advantage is the accessibility world-wide. It is facilitated online where you can access bitcoin and cash out almost everywhere in the world. Nowadays, countries like Germany, China, US and Canada recognize bitcoin as a currency and allow it to be cashed out.

If you take a look at the price of the bitcoin, it is amazingly impressive: $700 per bitcoin! This will motivate many investors to look at bitcoin as a reasonable investing opportunity. And of course, it has drawn the attention of the general public.

However, here is the controversy that raises questions about bitcoin. This new online currency could result in serious tax evasion issues. If bitcoin is accessible everywhere in the world, easy to cash out, and has minimal transaction fees, it would be a piece of cake to commit tax evasion without strong regulations to monitor such conduct. Also, the unpredictability of the price of bitcoin should concern consumers or investors. Unlike gold or stock price, there are not many indices or variables that investors use to analyze the price. This means that such an increase in bitcoin will only result in promoting reckless investment without thorough analysis.

The next generation of production is happening now.

With the emergence of the 3D printer, the industry will shift from mass production to an individual production phase. This technology will change industry and companies in production should be aware that this is the beginning of new era.

I agree with Kieran Baril’s opinion in his blog about the 3D printer’s endless possibilities. For example, you can make tools, trophies, toys and so on. Because it is an emerging market, there are many developers who are creating blueprints for products they want to make.

The means of production used to be controlled by the ones with capital, but with the price of the 3D printer going down, people now can produce at their own commodities. This indicates the shift of power from capitalism to the individual with the 3D printer.

History is coming full circle; we can expect that individuals in the near future will produce most things at home like our ancestors used to.