But consider that Bitcoin is programmatically deflationary, can cross borders without the approval of regulators and doesn’t rely on the resilience of political institutions for its validity and there’s more than an outside chance that it could one day form the basis of international trade and become a major traded currency.
After a decade of barbaric growth, the mining industry is at crossroads. The entanglement of the three forces produces unpredictable short-term variances, but over the long-term as Bitcoin integrates deeper and wider with the rest of the economy, mining will become more competitive and resource-intensive.
However, what we can surely all agree on is that leaving your money in cash is a poor medium to long term move, assuming you want to retain some wealth.
There’s no way to overstate the significance of the first-ever decentralized distributed network (the Bitcoin blockchain) utilizing the first-ever purely digital store of value, medium of exchange, and unit of account (Bitcoin).
Because in the end, we are all Satoshi, even if the real or the real Satoshi showed up, it would not really matter, Bitcoin separates the role of the state and money. That is its intrinsic value, that is its true wealth. We are all Satoshi.
Satoshi Nakamoto’s Bitcoin whitepaper was genius. It described a system that effectively turned electricity into truthful records. That may sound strange, but Bitcoin’s ability to produce absolute trust between disconnected groups of people is groundbreaking.
But even if the tech fails, the ideas that make up Bitcoin will never die.
Behind every revolution is a revolutionary idea, and no monarch, dictator or democratic government can do a thing to stop an idea whose time has come.
And now is the time for Bitcoin.
She discovered that she can use bitcoin to top up people’s phones on bitrefill.com, and she can charge for this. For every 100 dollars she receives in bitcoin, she gets 120 CUC in cash from her friends whose phones she tops up. Ira is quite pleased that she has found a way to arbitrage the currency exchange. If she got paid via Western Union, she’d lose 15% of what the agency pays her. This way, she makes 20%.
There Are 21 Million Bitcoins
1 BTC Today Will Always Be Equal To 1 BTC In The Future
You Own Cryptographic Keys To A Portion Of Bitcoin Blockchain
Not Your Keys, Not Your Bitcoins
Bitcoin Has No Leader
Bitcoin Is Backed By Math
Bitcoin Is Transparent
Bitcoin Can Not Be Stopped
Bitcoin will become the international monetary standard and validating the network will be a matter of national security and sovereignty.