Mon, 10 March 2014
Bitcoin is immortal, so you might as well embrace it.
New technologies almost always follow a predictable pattern. They start off exclusive, expensive and as something that grants power to a privileged few, all while some lucky nerd sits atop an ever-growing pile of money at the top of the pyramid. But eventually, those very same pieces of innovation become cheap, ubiquitous and totally standard until they’re replaced by the next big thing. It’s happened so many times in the last couple of decades that it almost seems like a requirement. But every now and then, something so disruptive and novel comes along that it transcends all convention- The PC, the Internet, email, cellular phones Napster- the list goes on. Will the next addition to that list be Bitcoin?
In just a few years, Bitcoin went from a thought-provoking paper, to some clever coding worth a fraction of a penny, to “nerd money,” to disruptive technology worth billions, to the number one consumer of raw computing power in the entire world; 256 times more than the world’s top 500 super computers combined. Even more than porn. Yes, seriously. This has given rise to a guerrilla economy that circumvents the need for any traditional fiat currency. Sure, you can buy with it, invest in it, sell it, trade it and speculate about its future until your eyes bleed, but that’s far less exciting than the community that has sprung up around it.
Bitcoin is not just a defiant, decentralized currency. It has spawned a tangible, global movement of the most potent sort- smart, tech savvy, passionate, highly engaged and young. Every day, people gather by the thousands to discuss, teach, create and philosophize around it and in just a couple of years, this community has accomplished a considerable amount. They’ve given birth to new businesses, technologies and dozens of crypto-currencies. But, that’s just the tip of the ice burg.
Chris Ellis is one of the driving forces behind the crypto-currency, Feathercoin. He’s also a Bitcoin enthusiast and expert who has spoken extensively on the subject.
P.S.-You can now tip the show in Bitcoin!