Is Bitcoin the Best Money Ever? - A Gift From an Anonymous Creator
Once in a hundred years something as revolutionary as Bitcoin comes along and changes everything. The odds of inventing a better form of money are almost non-existent.
Bitcoin is not just any cryptocurrency. It is unique. It is the king, while others are scammers and imitators trying to copy the formula, find a twist, sell their story, and take your money.
Bitcoin is Bitcoin. Don’t confuse it with all the other dirty altcoins out there. This association has done irreparable damage, and it makes me sick when I see all the scams and exploitations ravaging the naive population in Crypto. It’s a den of liars, cheaters, scammers, and at the very best, absurdly ideological over-promisers, and yet the masses flock to it like bees to honey.
Bitcoin is different. It is ethical, universal, and sound money.
I’ve been hearing calls to separate Bitcoin from the rest of the Crypto space, as all the shenanigans are consistently tarnishing it. I tend to agree.
There are a lot of things wrong in the cryptocurrency space, from unstable exchanges, hacks, scams, untested protocols, dubious figures, and manipulation, to undisclosed shilling by influencers.
Bitcoin has nothing to do with any of that! Yet it is often thrown in the same basket by association.
Bitcoin is the best form of money ever invented. It has no competition!
Bitcoin has unique properties that set it apart:
You can be your own bank.
It operates on a trustless network, meaning users don’t have to trust third parties to handle their money.
It enables borderless transactions, allowing users to send and receive money from anyone, anywhere, and at any time.
No one can confiscate your money if you secure it properly - not even your government.
No one needs to know how much money you have. Transactions can be conducted with a certain degree of anonymity, as no personal information is tied to a user’s wallet address.
You can carry your money with you, even in the millions. It has no physical form and can be stored and carried in digital wallets.
It has hard-coded inflation that halves block rewards every four years, and no one can manipulate that.
It has a fixed, limited supply of 21 million Bitcoin. The last Bitcoin is projected to be mined sometime in the year 2140.
It is infinitely dividable, the smallest unit being a “Satoshi,” named after the alias of its creator. One Bitcoin holds one hundred million Satoshis.
It’s a form of digital cash and an investment vehicle for the future.
It’s an inflation hedge in the long term.
It has an immutable blockchain ledger, ensuring the security and accuracy of historical records. No one can alter the records.
It is immune to double spending and reversing transactions.
It’s secured by tens of thousands of computers all around the globe and decentralized. If only one of those nodes survives, your money and the network are secure.
It’s a direct product of converting energy into value via a system called the “proof of work.” Bitcoin mining is a computational process of validating transactions over the Bitcoin network.
It enables anyone on the planet to have their own digital bank account with almost zero friction. No gatekeepers, no one to ask permission, no ID necessary.
It is possible to live entirely on Bitcoin, earning, saving, investing, and spending without the need for traditional fiat currencies.
It doesn’t discriminate. Anyone can participate in the creation, usage, ownership, or mining of Bitcoin.
It’s a form of digital money, made for the digital age, inherent to the internet.
It can be transferred directly or through third parties. Transactions can travel via the internet, satellite, or even radio waves. Wherever information can travel, the Bitcoin network can be made to adapt.
It can be used for micropayments via the Lightening network, a layer two solution that enables anyone with a phone or a computer to send and receive Bitcoin practically for free.
Bitcoins’ long-term focus, scarcity, and potential for increasing value incentivize responsible behavior among participants.
But the best part, as if all this wasn’t convincing enough, is that its creator is unknown, anonymous, and either wants it to stay this way, or they’re dead.
Some people find this fact to be a problem and a weakness. It is the best possible outcome that can happen only once in a hundred years—a truly revolutionary situation capable of improving everyone’s lives.
Unless it was a psyops by the CIA, or however that conspiracy theory goes. It’s 2023 - anything is possible. It’s just the reality of life, and life has a funny way of humbling us all. As it stands, though, I will take it at face value and won’t speculate on the motives of its anonymous creator.
The Bitcoin white paper speaks for itself, and I will allow myself to believe that the intention behind the creation was honest and well-meaning. I don’t often indulge in seeing the good in people, but I will this time. I have no reasons to doubt Bitcoin - yet, anyway.
Here’s why I believe that Bitcoin’s creator being unknown is one of its biggest strengths:
There is no one person or entity that the government can call in front of Congress and drill into submission.
No one person can be incentivized to manipulate it.
Nobody can be prosecuted and thrown in jail for creating universal digital money.
Nobody has been secretly hoarding Bitcoin, pre-mining it, and manipulating it. But there are large holders and miners, of course. Rich people will always do rich people things.
No single government can stop it directly, though if a superpower tried, it could do severe damage by investing a lot of money into the attempt.
There is no privileged group of politicians and economists that would play with its basic properties, supply, and inflation.
There is no one point of vulnerability. Bitcoin has withstood over a decade of attacks from all sides, and it’s bigger and stronger than ever. It has been proclaimed dead hundreds of times and is still here.
It’s definitely not a financial security, which cannot be said for any other Cryptocurrency out there.
It’s not a scam, and there is no charlatan behind Bitcoin like it is with most projects in the Cryptocurrency space.
It also doesn’t hurt that the mystique adds to the uniqueness of Bitcoin’s story. It turns it from someone’s project, a company or government token, to digital money for everyone.
The best thing Bitcoin’s crater could have ever done is disappear, leaving us with his legacy. That alone separates it from other currencies. If you want to know more about Bitcoin, this is an extensive repository of information.
It gave us a way to voluntarily opt out of the corrupt and unsustainable financial system and regain our freedom and sovereignty. The money we can trust and rely on because it can’t be manipulated or corrupted by any one individual or organization.
Bitcoin is the perfect money for the new digital age.
So, to recap: It’s Bitcoin and NOT Crypto, altcoins, or blockchain. Plenty of Cryptocurrencies use blockchain for storing data, and plenty are similar to the unsuspecting eye. But they are not the same!
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