My Response to Why I Love Bitcoin

Someone asked me a while back about my interest in Bitcoin, and I want to share my reply here with everyone. The below is what I told my friend.

When I first heard about Bitcoin and did some research, I found out that it's a public ledger, an open-source currency, that allows for decentralized issuance, and that it is backed by math. A far cry from the FED's worthless fiat that is backed by the promise of the American government.

When you delve deeper, you'll find that bitcoin is just one app built on top of a new technology, the blockchain, that allows for decentralized solutions where only centralized systems worked in the past. By solving The Byzantine's General problem, or basically computational trust.

Imagine a world where the counting of votes is done not behind closed doors but on a decentralized platform that everyone can see and verify. More than 4 billion people have no bank account in the world today, Bitcoin will deliver financial services to the un-banked right on their phone. Decentralized economies and market places, decentralized applications, decentralized social networks where you as the content creator make the ad revenue as oppose to say facebook or twitter. The possibilities are endless, we honestly still don't know it's full potential, where it's headed and who will be doing the steering.

So yes I am really into this bitcoin thing.
Such Bitcoin.
Much Doge.

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