BitCoin is actually an exploit against network complexity. Not financial networks, or computer networks, or social networks. Networks themselves.
Sentiment: NEGATIVE
The Internet's proven to be a pretty big deal for global society, and Bitcoin could basically be thought of as the Internet, applied to money.
At its core, bitcoin is a smart currency designed by very forward-thinking engineers. It eliminates the need for banks, gets rid of credit card fees, currency exchange fees, money transfer fees, and reduces the need for lawyers in transitions... all good things.
Bitcoin's got its issues. But it is not competing with perfection.
Bitcoin frees people from trying to operate in a modern market economy.
In 2008, Bitcoin was mysteriously introduced to the world in an obscure, technical paper written under the pseudonym Satoshi Nakamoto. By late 2013, the financial press was filled with reportage on Bitcoin and its dramatic price increase.
As economic life relies more and more on the Internet, the potential for small bands of hackers to launch devastating attacks on the world economy is growing.
Networking is an essential part of building wealth.
You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven't been able to do it. Maybe somebody else can.
The hacker community may be small, but it possesses the skills that are driving the global economies of the future.
Bitcoin woke us all up to a new way to pay, and culturally, I think a much larger percentage of us have become accustomed to the idea that money no longer comes with the friction it once had.
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