Bitcoin Is a Revolution, Not an Investment

bitcoin revolutionIt has been interesting to see large numbers of people pay attention to Bitcoin in the past year or so. The reason for that attention was the exchange price of Bitcoin, which made a lot of early adopters wealthy. (One of the few times when the right guys got rich.)

The idea of getting rich quick always sells, and it did this time too. Along with it came a lot of investment talk, complaints about volatility, well-publicized government raids, central bank reports, and threats from tax men.

What most of these people missed was that Bitcoin is not a traditional financial instrument and doesn’t fit into the categories of traditional finance. Bitcoin – cryptocurrency – is a new thing. It’s a radical, revolutionary thing. As long as you try to categorize Bitcoin with traditional financial tools, you’ll never really understand it.

Bitcoin Comes From Outside

Lots of people talk about “outside the box,” but many of them would run from anything that was truly outside of the box. Such people may be interested in Bitcoin because of price gains, but only because they don’t understand how radical it really is.

Bitcoin, you see, is not an adaptation based on existing currencies, nor can it be understood that way. Bitcoin is from outside – from the realm of anti-establishment radicals.

In particular, Bitcoin comes from the cypherpunks, a group of crypto-anarchists and anarco-capitalists. They began to flourish in the early 1990s, as cryptography merged with the new Internet and they realized they could “wall-off” areas of cyberspace from the coercive intrusions of governments. Here are a few quotes from these folks:

We don’t much care if you don’t approve of the software we write. We know that software can’t be destroyed and that a widely dispersed system can’t be shut down.

Governments of the Industrial World, you weary giants of flesh and steel, I come from Cyberspace, the new home of Mind. On behalf of the future, I ask you of the past to leave us alone. You are not welcome among us.

Encryption, digital money, anonymous networks, digital pseudonyms, zero knowledge, reputations, information markets, black markets, collapse of governments.

A specter is haunting the modern world, the specter of crypto anarchy.

Arise, you have nothing to lose but your barbed wire fences!

These are not financial people trying to invent a new kind of currency that’s going to make them rich – these are radicals who want to build a new world. And that’s exactly what Bitcoin is: a radical tool for building a new world.

Bitcoin was birthed on the cypherpunk mailing list, by the way. One of the list members, someone named Wei Dai, outlined the structure of cryptocurrencies in 1998, ten years before Satoshi Nakamoto wrote his program.

What’s so interesting about the current moment is that the concept of cryptocurrency is challenging people to think about what they truly believe. Do they really love the status quo? Or is it just something they accepted because they saw no alternative?

Because once people really understand Bitcoin, they also understand that it is built on the opposite principle of the status quo. Bitcoin has no place for a central controller, no tool allowing an enforcer to override anyone’s transactions, no mechanism of coercion at all. That makes cryptocurrency anathema to the current monetary regime and to every ruling regime.

People who come to understand Bitcoin also learn this, and it can be a real challenge for them.

And What Now?

Well, several things are going on now, all at the same time. Here’s my list:

  • The old regime – banking, law enforcement, tax-gatherers – are trying to harness Bitcoin and build tools of control into or around it.
  • Military and intel agencies are figuring out how to shut down Bitcoin traffic without killing the Internet altogether. The big tech companies have become their sycophants and are following their masters’ will.
  • Certain financial operators (“reasonable” types) are trying to subvert Bitcoin and make it acceptable to the powers-that-be.
  • People outside the G20 financial monolith are beginning to see the utility of Bitcoin. It is much cheaper, easier, and faster than Western Union, bank wires, or credit cards. It’s also far easier to transmit over distance than cash. A cab driver in Zaire doesn’t give a hoot whether the Western banking cartel hates Bitcoin; if it works for his customers, he’ll use it.
  • New projects like Ethereum, Dark Wallet, BitWasp and many others are popping up regularly. The innovations are not stopping.

What comes of this is anyone’s guess, but one thing is clear: The genie is out of the bottle;  everyone knows that cryptocurrencies work, and work well. Even if Bitcoin is brought down, new adaptations will follow it in a steady stream.

The revolution is here, now. Fight it, join it, dance, mourn, or just play dumb; it’s your choice.

Paul Rosenberg

13 thoughts on “Bitcoin Is a Revolution, Not an Investment”

  1. Bit coin will never work, its only there to fail like everything else the devil invents for the dumb sheeple public!! Half a billion dollars, who can take a half a billion dollar hit like its ok. Do you understand ppl lost eveything bc they thought it was working ok, put all their money in, all gone!!! You really have to be a special kind of dumb to think your smarter than half a billion scam, do you have half a billion in btc right now?, right guess who does, some hacker bc btc doesnt work. You would think that type of loss would make ppl more cautious about the whole platform and not just part they have, wth tho. Nobody has any recourse at all on that half billy, amazes me that they couldn’t freeze out the stolen btc and just make them new ones, but who has time for that kind of logic!!??? Then they filed for bankruptcy right after all the money went missing, which only went thru bc he filed for Regulation with US Gov. (even tho he’s located in Japan, wth, isn’t btc supposed to be unregulated, so why did shepple keep their money there after he filed for regulation??, wasn’t that enough??, isn’t that all the way against the grain???). Without the Regulation an bankruptcy they still owe that money to exchange users, who playing checkers and whose playing chess? If you cant see how premeditated that is we’re not on the same level analytically, not sure that there’s a bridge for that gap! 😉 and worse yet it was invented by nsa, who coincidentally have full anal access to all windows devices ( thanx Bill ;). Does dumb sheeple public makes more sense now…hopefully!

      1. Do they have backdoor access to cryptocurrencies that use other algos like scrypt, quark, X11, etc? I don’t think so. If they do have backdoor access to SHA256, the very moment that they use it people will switch to other cryptos. You can’t stop the movement now. That is the point of the article above.

        “The genie is out of the bottle; everyone knows that cryptocurrencies
        work, and work well. Even if Bitcoin is brought down, new adaptations
        will follow it in a steady stream”.

    1. I have yet to see someone use the term “sheeple” who wasn’t a lunatic or a blabbering idiot.

      1. and clearly everything you know is all that exist in the world, Im so sorry god can you ever forgive me

        1. your name is stupid too, now go tell your mommy I cussed at you on the big bad internet, she will put her skirt over your skirt to keep you safe here, lmao

      2. Sheeple get whacked for half a billion, obviously that would never happen to sharks, there would be lots of blood, Im now hacking bit coin bc its a security risk to the U.S. and Human Intelligence. Im not like you snakes wanting to sink U.S. like a fool that doesn’t understand money, replace bit coin with Euros for a sec, how can you use Euros like that in U.S. without affecting the Dollar negatively?!, Right You can”t, but you didn’t think of that. I do think of those things on a much longer analytical trail than any of you obviously! Really I can hack whoever I want and give them more money on my site, they will take it of course. Then publicly burn that fake, deceitful pitch coin (turn p upside down, lol). Really that Brady Bunch mind set is killing you in the realm of reality and finances, your President is using drones on U.S. Citizen and Humans in general but be nice to moron slaves so stupid as to sink their own ship, Negative Ranger while Im on ship with you, if I wasnt surely it would be the bird in your face, drown if you need to, but you idiots are not taking me with you DUH. If your not fired up about that you probably don’t have a country and didn’t even know it!

    2. Nate, you are ranting and starting arguments. Make your points concisely and politely, or move along.


      1. if somebodies supplying there useless opinion about me and not focused on the subject, talk to them play ground teacher, clearly Im not with what losers think, in box me about it all trolls not talking about whatever the story is THANX. on fb Nate ideaatm twentythree Hill, dont be scared, no cuss words ladies

  2. I’m not sure if I agree with Nathan Hill. One of these days our currency will collapse and then what. Bitcoin may or may not be the next real currency, but then what is. Gold perhaps.

  3. Well I have that covered too, my website can not be hacked, so if your lucky enough to have your money in it before stuff hits the fan you will be ok too. Celebrity Green Room is un-hackable, prevents slavery, homelessness, poverty, and any financial crime you can think of or exist right now! you can see more on my fb

    1. And the Titanic was unsinkable. Take your website offline, print it, stick it in a safety deposit box, and never expose it to the internet. Then you can claim it’s unhackable.

  4. CYRPTOCURRENCIES are a true juggarnaut. That said imagine how much moreso they would be when combined with mature PERSONAL MANUFACTURING and fully AUTOMATED PARCEL DELIVERY. Merchant A could keep his machines running making product X that is automatically manufactured, sold, and shipped to Merchant B who’s machines need that product to make product Y to sell to Merchant C who is making things that Merchant A’s machines need in order to upgrade capacity. If you think cryptocurrencies are unstoppable, just wait. 🙂

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