Why I like bitcoin

Dec '13

This is it. The hype is here, the media are relaying a lot of information. You didn't even know what bitcoin was two weeks ago. Now people are rushing to get some. Hype, speculation or real game changer ?

I've always been someone complaining about fees. Any fees, all fees. And especially about the banks. After all, one can legimitely ask the question: If my money is the product, why should I pay to use it ?

In the modern age where sending an email, an SMS, any electronic transaction takes no more than a couple for seconds. And knowing that monetary transfers between banks is no more that an electronic transaction, why does it still take to my bank more than a day to send some funds to another country ? Why does it even take another day to the remote bank to make that same money available ? Why did I have to pay currency fees ? Why did I had to pay transfer fees ? When no paper money has been moved.

Let's go back in time a bit. Why did we experience a fiancial crash in 2008 where banks couldn't get all the money they lend to each other ? Why wasn't I aware of any screw up before it took a gigantic proportion ? Why am I still not able to know where my bank puts my money ? Why do I have to use a money that can be counterfeit ?

Why does the FED denies any gold audit asked by the German government ?

This is why I like bitcoin. For the commodity of it. For the instantaneousity. For the fact that I will endup trusting more an algorythm than a corporation. Of course, the system is not perfect. Some people explains it very well. But some people are also using bitcoins in a very clever way.

I like bitcoin because it gives the power to the end user. It gives the power to manage your own money. It gives the power to be transparent and can also be used for other things.

I end up having some bitcoin. Not for their value, but for the leap in technology that Bitcoin brings. And for the leap in our society that it will hopefully trigger.

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