Bitcoin Revolution: Is It A Worthy Cause?
Bitcoin was made by an anonymous organization working under the name of Satoshi Nakamoto, which was launched on 3rd January 2009. It is a digital and decentralised currency and its transactions are verified through Blockchain disruption and miners are presented with Bitcoins as they maintain the network of nodes making Bitcoin safe and stable. Surprisingly it is as enabled as gold, meaning that it can be used to purchase goods and services as did gold years ago.
The inspiration for ideals
According to the true ideology behind Bitcoin, it exists due to the ideals of liberals- a political school of thought giving more importance to the public, and due to its obedience to the principles of Austrian Economics. Bitcoin’s idea stemmed out from the Cypherpunk movement of the 90s, as it too holds ideologies about freedom of speech, restricted government interference and privacy inspired by liberalism.
The Rebellious face of Bitcoin ideology
It is believed that Bitcoin was created to criticize the present way in which the government handles and circulates money and the kind of loopholes it has created within the society. It has been noted that all those libertarians vouching for the modern liberalism movement were amongst the first people who became a part of the Bitcoin community. Bitcoin was launched in 2009, which was the year succeeding the year 2008, the year of a severe financial crisis. It has been reported that the motive behind making Bitcoin was the disappointment at the government’s and the bank’s inefficiency at handling the financial crisis and the difficulties that followed it. It instantly gained momentum as it attracted all the anarchists and libertarians, according to whom Bitcoin was a way of taking away money, which acted as fuel to the government’s power, from them.
Thus, Bitcoin isn’t just some money grasping, making or distributing unit. Even though it follows a slightly rebellious approach regarding finance, it hasn’t failed its audience yet. One may even call Bitcoin a rebel with a cause because the Bitcoin Revolution is excellent.