This is a bilingual website
A critical component of contemporary society is its confidence in stable governance and monetary systems. Governments and central banks have historically served as the financial system’s defenders.
Suppose the government and banks can’t be relied upon.
As much as Bitcoin does not ensure freedom and trust, it is a major step toward providing freedom of choice beyond the freedom from a third party to pay. Transactions are validated by a community of users, who assume responsibility for verifying transactions using technology.
In October 2009, Satoshi Nakamoto, a pseudonym for a person or group of individuals — no one knows — wrote a white paper on Bitcoin. Writing during a time when the global economy was in the midst of the Great Recession and financial crisis is notable since it was written at this time.
Hundreds of thousands of individuals lost their employment. Great enterprises went bankrupt. And the financial institutions we trusted were the ones that planned this asset charade. Governments and banks spent trillions of dollars trying to remedy the problem, but it didn’t get any better. Government-citizen relations were severely damaged.
When individuals realize that financial institutions are not completely trustworthy and that the government does not always act to protect individuals, but rather supports these institutions, Bitcoin and its rapid growth are a result.
Anti-establishment at its core is what Bitcoin is all about. Financial companies that charge excessive fees and sell worthless, mortgage-backed products are being snubbed. At its core, Bitcoin is a movement to reclaim control of the money supply from government and banking institutions.
Instead of being controlled by a government or a financial institution, Bitcoin is revolutionary because it is controlled and protected by the people who use it, not by the government or a financial institution. People all over the world can now store value in this medium that can be moved around by remembering a password, which is a big step toward protecting assets from crooked governments.
Bitcoin signifies freedom from centralized financial institutions that have lost our trust; freedom to keep wealth in an asset that is not controlled by governments.
The US dollar and many other fiat currencies are backed by debt, whereas Bitcoin is not. It is a digital gold whose value is guaranteed by its users.
Bitcoin is flawed. It’ll change. Scammers will always exist in the financial world. Regulators will be. Gains will be duly taxed! Haters will hate. Volatility persists. But, because it gives people freedom, Bitcoin won’t vanish or explode like a bubble. Ever.
