I got bored, and very annoyed recently researching for an article I was going to write on why bitcoin is not dead, but I simply lost interest and figured it can wait. It was to be titled “Bitcoin is not dead…” or hopefully something a little more catchy to deliver a solid counterpunch. Anyway, I ended up writing this piece instead about the true beauty of our beloved cryptocurrency which is often lost in the mainstream media.
For many thousands of years, art and music have had the ability to conquer and divide simultaneously. In much the same way, the concept of bitcoin has this ability and it too hits at the very core of us as human beings. It means many things to many people, but fundamentally it gives us the one thing we all want: our freedom to choose, our freedom to think and do what we believe is right, simply our freedom to be.
If you put 100 people in a room and discuss the significance of the Beyonce song “Put a ring on it”, then the meeting will be adjourned in a matter of minutes. However, if you put the same people in a room to discuss Bob Dylan’s “All Along the Watchtower”, then you will have many different interpretations and it is unlikely that the meeting will find a unanimous decision and then move forward on those findings.
The song, which was originally recorded in 1967, is fragmented chronologically but simply sets the scene of an artist (the insider) and the industry (the exploiter), and leaves much of the interpretation to the listener. This it the true genius of the song in that almost nothing happens throughout the song, but with Dylan continually hinting at a looming confrontation, he practically forces the listener to write their own final verse.
In much the same way, the concept of bitcoin has the ability to be debated for many decades to come in all levels of discussion, from your own personal views to how it can impact and be utilized at a global economic level. This really is the fundamental element of bitcoin, and it’s related cyrptocurrencies, and it also forms the basis that will allow it to stand the test of time.
I agree that the issues facing bitcoin are not trivial, and that they will require much thought and serious action at some point, but on one outside actually cares about block size or transaction limitations, we just want to use it as a currency – you know, buying and selling things, saving and investing, etc.
So, whether is goes by the name bitcoin, or some other equally cool name (please don’t let it be Ethereum!) at some point in the future, I firmly believe that the idea of decentralized currency will be alive and well, and all forms of it will be accepted down the road at the local fish and chip shop.