A Closer Look At The BitCoin Revolution

Created back in 2009, the BitCoin market has only recently been getting media attention.

I love freedom and BitCoin is the closest to freedom money you can get at the moment.

From what I’ve read governments are already trying to dispose of BitCoin (which is impossible because of the way the system is designed) and PayPal and eBay have suspended accounts of people who were trading BTC. Nobody likes competition and governments just can’t stand it.

Gold/silver is also freedom money but currently it’s rather hard to buy something with it. With BitCoin it’s doable already:

Fortunately BitCoin is not state controlled, instead it’s controlled by free market. This is better because now if Mt.Gox wants to regain trust of its customers, it will not only have to convince them that the exchange is safe but maybe lower it’s fees or offer some basic insurance for users. Otherwise users will permanently move to other exchanges so either way this makes the BitCoin market stronger not weaker.

An increase in the value of bitcoin, the world’s largest online currency, may fuel concerns that virtual money could undermine the role of central banks.

The CHART OF THE DAY shows that bitcoin has more than doubled in the past 12 months, strengthening to $16.37 from $5.88, according to data from Mt. Gox, the world’s largest bitcoin exchange. The money, issued by a decentralized network of computers, has recovered after falling to $2.14 in November 2011 from a high of $29.58 five months earlier.

With many websites offering free BitCoin(s), in the format of PTC, it seems it’s almost as in demand as any other currency or coupons.

Man, by nature, wants to be free. He wants to choose how he lives his life. He wants to choose with whom he will associate. He wants to choose with whom he will trade. He wants to choose how his money is spent. Bitcoin gives him a greater ability to do all of these.


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