Bitcoin: It’s the platform, not the currency, stupid!
2014: The year of encryption
“Bitcoin is far more than a currency”. Seeing Bitcoin as a currency for speculators and using bitcoin’s initial large exchange rate fluctuations to label the coin as “evil”, is to seriously underestimate Bitcoin
Similar to when TCP/IP, SMTP and HTTP were still in their infancy, the Bitcoin protocol is currently in a similar evolutionary stage. Bitcoin may never fully reach maturity as a currency, but given the fact that it’s underlying protocol is open source, similar initiatives will emerge using its key design elements, and one day cross the finish line because it is the “fittest”.
“Bitcoin isn’t a tulip, it’s a torrent. It is to finance what Napster was to copyright – and if this one is stamped out, another one will appear.”
Countries, nations, bankers, stock brokers, insurance companies, notaries and the like are in for a wild ride and they won’t enjoy it…
Featured image: Shutterstock/urbanlight