{"id":295,"date":"2014-01-24T18:04:00","date_gmt":"2014-01-24T18:04:00","guid":{"rendered":"http:\/\/blog.holytransaction.com\/what-is-bitcoin-and-why-should-you-care\/"},"modified":"2020-09-13T20:18:39","modified_gmt":"2020-09-13T18:18:39","slug":"what-is-bitcoin-and-why-should-you-care","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2014\/01\/what-is-bitcoin-and-why-should-you-care.html","title":{"rendered":"What is Bitcoin and why should you care?"},"content":{"rendered":"
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<\/div>\n

(BitcoinMagazine<\/a>) Bitcoin is freedom for money.<\/b>\u00a0Let me explain: Bitcoin is third \u201cdemocratization\u201d that I\u2019ve had the privilege of living through.<\/p>\n<\/div>\n

The first was the Internet of course, the democratization of
\ncommunication. No longer did you need a printing press, runners, trucks,
\ncall boys in order to make your voice heard. Now all you needed is
\nWordPress and a good story. Look at Matt Drudge. He has singlehandedly\u00a0revolutionised\u00a0political reporting. His influence is at times\u00a0stronger
\nthan the New York Times. And it\u2019s just him and an assistant and a very,
\nvery simple website.<\/div>\n
<\/a>The second democratization is 3d printing, or \u201cadditive
\nmanufacturing\u201d. It is the democratization of manufacturing and its in
\nfull swing. You no longer need a factory to make a product. You can
\nalready manufacture in plastic from your desk. In less than 10 years
\nyou\u2019ll be able to do it in metal, in color with moving parts.<\/div>\n
Bitcoin is the third democratization, the democratization of money.
\nRight now, your money, the money you worked for, saved and earned isn\u2019t
\nreally yours. The banks charge you fees for holding it (and sometimes
\nlose it). Governments have confiscated it at times (remember Cyprus?).
\nIf you want to move it, there are restrictions as to how much and when,
\nand if you want to spend large amounts of it, you must account for how
\nyou got it.Bitcoin, and crypto currencies in general solve this problem. They
\nare in essence a \u201ctrusted distributed public transaction ledger\u201d.
\nImagine a hotel register. Guests sign in, date, room, etc \u2026 That is a
\ntransaction ledger. Distributed means that the machines that process
\nthat ledger, the \u201cbook\u201d if you will, are spread throughout the world
\nwith many different ownership hands so that it is very, very difficult
\nfor them to collaborate to cheat. Public, because it is open for anyone
\nto inspect.<\/p>\n<\/div>\n
And trusted, because that is the most important thing of all. Do I
\ntrust that you really have the money? That you haven\u2019t spent it already,
\nmaybe even a second ago? Ensuring all of that is what the \u201cmining\u201d
\nmachines really do. The miners are the unseen heroes of Bitcoin. Without
\nminers there is no coin.<\/div>\n
<\/a><\/div>\n
The adoption of Bitcoin will drastically reduce the amount of
\nfinancial control anyone can exert over your money. And without that
\ncontrol they can\u2019t tax you and if they can\u2019t tax you they can\u2019t control
\nyou. They know this, they are scared and they should be.<\/div>\n
With Bitcoin there are no borders to money. It flows as easily as
\nwater from a spilled cup upsetting the plans of the bankers to monitor,
\ncontrol, restrict, tax and otherwise devalue YOUR money.<\/div>\n
\n

Bitcoin is freedom for money. Switch to Bitcoin, free your money!<\/b><\/p>\n<\/div>\n<\/div>\n

Open your free digital wallet here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n","protected":false},"excerpt":{"rendered":"

(BitcoinMagazine) Bitcoin is freedom for money.\u00a0Let me explain: Bitcoin is third \u201cdemocratization\u201d that I\u2019ve had the privilege of living through. The first was the Internet of course, the democratization of communication. No longer did you need a printing press, runners, trucks, call boys in order to make your voice heard. 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