In April 2013, Nathaniel Popper of 'The New York Times' reported on Bitcoin in an article titled, 'Digital Money is Gaining Champions in the Real World'.
Sentiment: POSITIVE
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.
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.
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.
Bitcoin frees people from trying to operate in a modern market economy.
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.
There is no more reason to believe that Bitcoin will stand the test of time than that governments will protect the value of government-created money, although Bitcoin is newer, and we always look at babies with hope.
Bitcoin's got its issues. But it is not competing with perfection.
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 is actually an exploit against network complexity. Not financial networks, or computer networks, or social networks. Networks themselves.
Soon it's all going to be digital anyway. It's all going to be saved on a little coin somewhere.
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