The Bitcoin Hype

Bitcoin will replace fiat currency in “modern”* countries by 2017.

Emperors were skeptical of democracy. So where the French monarchs.

The democracy behind bitcoin is true, and fair, but i think we shouldn’t get caught up by these “revolutionary” and political reasons why Bitcoin will rise, bitcoin’s usefulness for technology is unprecedented.

Bitcoin is not what the internet was to libraries/tv/media in general.

Bitcoin is infinitely more, to automated computer systems, which we depend on every time we use the internet, the only difference is nothing has been implemented yet that uses bitcoin to fund it.

Computers can already learn, but they need humans to teach them, and humans are greedy and lazy and wont work for free. What if a computer paid humans to teach it?

It’s also a 100% proof of transaction, or contract exchange. It is undeniable, it’s impossible to falsify a contract written on the blockchain. This will replace basically every lawyer, accountant, notary, and anyone else whose task can be automated by computers.

Right now, we’re scratching the surface, and making some money off the hype, but honestly, even if it drops to 1$ tomorrow, i would keep on buying as much as i can afford. Because i know it’s going to be an important technology whose worth is determined by the amount of money spent to generate bitcoins.

Just a thought.

* We’ll have to change our perception of modern countries by then, as it seems those currently ahead are lagging behind with Bitcoin 😉