January 3, 2014

Bitcoin As a Form of Protest

Category: Opinions — Tags: , , – admin @ 3:46 am

Digital currency bitcoin and the newborn dogecoin had gained mainstream appeal that the two currencies have had several massive hack-and-steal crimes from anonymous users. Bitcoin, slightly lowering in value this 2014, had shown great potential to become the world’s first official internet currency.

According to its official description, bitcoin bypassed traditional bank procedures. Bitcoin’s security lay in its transaction encryption, which only the two parties involved in payment could view securely. While it has its own disadvantages, bitcoin is indeed the currency of the free man.

More than 11,000 bitcoins are circulating in the world today. Governments fear the coins because it can uproot traditional banking systems. Currencies only have value if people believe in their value. When people interest in their currencies and they decide to use bitcoin, these financial systems will become obsolete.

Bitcoin can become a form of protest against the current fiscal systems. It can eventually bring down banking systems that served only the elite of society. It could also limit governments’ surveillance upon the riches and properties of people as the gold rush gave them power to do so.

If people wanted to increase the value of bitcoin, it can. Bitcoin could unify the strength of people to protest against the fiscal slavery it currently suffers.