Milo Yiannopoulos, the 32-year old British entrepeneur who grew up in Greece, first believed the recent declaration of Bitoin's ex-developer Mike Hearn that Bitcoin is dead. But Yiannopoulos, who is the technology editor for Breitbart.com, a conservative news and opinion website, realized the key benefits of Bitcoin are still there; the unique decentralization and the fast and discrete transfers. Also, Bitcoin's price has been stable since Hearn's announcement.
Yiannopoulos wrote an essay called “Bitcoin Isn't Dead, Yet” in which he questions the sudden decease of the world leading cryptocurrency. In Hearn's announcement he writes: “Despite knowing that Bitcoin could fail all along, the now inescapable conclusion that it has faild still saddens me greatly.” In Yiannopoulos' essay he states: “It's an odd argument in more ways than one. The greatest threat to Bitcoin – its dangerously fluctuating value – has not crippled the currency. Meanwhile, its old advantages are all still present. It remains the currency of choice for rebels and rogues: go to any drugs marketplace on the internet, and you're likely to find a Bitcoin payment option.”
Yiannopoulos continues: “The second great advantage is Bitcoin's phenomenally good transfers. If you're looking for a way to transfer money across borders rapidly and cheaply, it's hard to beat Bitcoin.” Western Union isn't any competition since it only costs a couple of cents to transfer millions of dollars worth of Bitcoin. International bank transfers on the other hand, they can take up to weeks and come and come with a lot of administration to perform.
Bitcoin is an important part of the free internet and to freedom in general. The media despises Bitcoin and is constantly announcing its death, for the same reason it hates Internet free speech: it represents a world beyond the media's control.
As to the question what the future holds for Bitcoin, Yiannopoulos says: “If future investors choose insurance and security over freedom from financial regulation, they will be free to make this choice. The black market will most likely prefer the unregulated digital currencies.”