Knowledge of Bitcoin certainly hasn't followed its price over the last two years; it's forever evident in the media, where you'll find countless interviews and articles with apparent financial experts and analysts.
Recently, many have taken to calling Bitcoin a store of value rather than a currency; it is not a store of value. They have called it a gamble and an investment; it is neither a slot machine or a financial investment. It has been called a threat to the world due to its energy usage; it is not.
Bitcoin is freedom. It's freedom from government. Freedom from banks. Freedom from greed. Freedom from limitations. It's true freedom in the hands of the people. Bitcoin allows the people to remove greedy annoyances that claim we need them; we do not.
Bitcoin offers various methods of consensus structure: a user is free to use a particular wallet that believes in specific changes on the Bitcoin network. They're free to run a node that conveys a particular message that's broadcast across the network for all to see. It's a voting method. A method of conveying an opinion over change and belief alongside others. Its message and opinion forever stored in the blockchain as proof of that decision; a collective of thoughts and opinions. The blockchain is a network of thought, as much as it is a history.
How many approve of a slight change within a wallet? Let's see which versions the majority of nodes are running, and what messages they're conveying. The very pools in which people mine on can also be used as a method of generating a consensus: how much hashrate in total approves of a fork? How much is approving of a different solution, instead?
These voting methods that generate an overall consensus don't just apply to Bitcoin, but cryptocurrencies as a whole; and the blockchain can be used to store that consensus and remove possibilities of conflict and uncertainty. You could quite literally host an election on a blockchain, and there could be no arguments as to who had won and whether a recount is needed.
In terms of Bitcoin's energy consumption: Bitcoin is actually doing us all a favour, for serious miners are constantly moving their farms to locations in which electricity consumption prices are cheaper, which in short results in a decrease of electricity costs in general, given energy companies do not need to increase their prices in order to generate a profit. Bitcoin is good for energy companies. Bitcoin is good for technological innovation as a whole. Its possibilities offer a wide range of physical and digital advancements: hardware and software booming in unison, once again each displaying its own agenda and opinion over the network. The beauty in that is free software will allow others to fork and branch their own versions, with their own opinions over the network. The consensus structure never ends; it simply grows stronger.
Bitcoin is no gamble, it is not a lost cause or high-risk investment that needs leadership to guide it in the right direction of profit and success. There is no right direction, the direction is whatever the people decide with the tools they've been given. Its price against a constantly fraudulent fiat currency is down to what those who use it decide it is, whether that's $10 or $1,000,000. We're not here to get rich in fiat. We're not here to bring Bitcoin to Wall Street and introduce hundreds of regulations and turn it into a mere asset. We're here to change the world in which we see it; to give power to the people and let them decide for themselves.
Bitcoin is more than a chart and the fiat it generates. Bitcoin is freedom.
Well, yes, for me and you. For me, the Bitcoin is a wonderful paradise but for the most of the people, it is something terrible and illegal. I mind to disagree with them, but the people are hard to change, especially if their mind is so jailed inside of the economic slavery that they fail to understand what they are missing.
All the more reason to begin properly educating them.
We don't want people to think Bitcoin and cryptocurrencies are a get rich quick scheme, but a revolutionary technology that changes everything.
Freedom from Banks- fine. But,how is it free from greed? How is it freedom from limitations?
For example: Because not all people know about bitcoin or cryptocurrencies, only early adopters will get a grasp of the value, and not all are into the digital world. The poor will still remain the poor. The value of money comes into the hand of only those people who came in early.
As on limitations, let's say my country Nepal for an instance where 19% of the national budget comes from the remittance. That 19% of the money, with crypto being into used, is a loss-for the government.
This, I put, as an doubt- a doubt due to my own ignorance and as I still try to learn more about the system of the crypto world. Your answer to the same would be a great help.
Thank you for putting this up here @namiks
In reference to greed and limitations: that's mostly connected to banks and other financial institutions that want to essentially own your money and tell how and where it can be spent.
With the blockchain, people are free to build their own software and applications that expand upon the currency, that removes a lot of limitations and places even more opportunities to those within the currency. For example: a few years back I had heard of a startup that developed a way to transfer Bitcoin through SMS, so that people in areas with no Internet connection, but a phone network signal, could still send money instantly to another person. Consider the fact that it also created a method in which people could send money and avoid any possible censorship online, in addition.
Take a look at how Auroracoin benefited the citizens in Iceland: the coin was developed, and 50% of them were distributed among the citizens through means of identification.
So, in terms of an entirely fair distribution, there are methods of completely ensuring fairness of coins and Tokens.
Yeah man, bitcoin and alt coins are good for everyone. It helps the billions of people who are not registered on banks. These coins are truly revolutionary. Good job with the blog.
Many of these cryptocurrencies are so much more than a get rich quick scheme. They're a revolutionary tool that replaces an increasingly problematic system that the majority are fed up with.
Its not that the price fall first time, have recorded before also..
Will Recover it and will go over it than any time before.
Anyway happy Christmas.