I didn’t know what to think about Bitcoin, mostly because the mainstream media has been so contemptuous about this new cryptographic alternative to currency. Thank goodness I don’t trust the mainstream media because once I started poking around the Bitcoin universe, I got super impressed really fast. Smart people got into Bitcoin over a year ago, and some of them are already bitcoin millionaires as a result. So why is the press so relentlessly against Bitcoin?
The mainstream wants you to believe there’s nothing wrong with our financial system, when, in fact, just the opposite is true. Bitcoin has come along in the nick of time to save us from the predatory banking monopoly that rules the world. It’s a revolution in finance and already having a powerful impact.
Ever since I became a devotee of this Bitcoin Revolution, people have been picking arguments with me on facebook about how they “don’t need bitcoin.”
“I can transfer money to any bank account for around 5 euros,” says Allan. “Why do I need bitcoin?” Forget the reality that bitcoin transfers only cost around $0.0008, a considerable savings off bank transfers, and the savings is even greater if you have to use Western Union, which has been the mechanism of choice for people without bank accounts for a century. Bitcoin transfers are peer-to-peer, which mean no financial institution can track your trade or charge an outrageous fee to process it.
Lots of people talk about how they’d like to see some reforms in the banking industry, but few of these people seem to have woken up to the reality that Bitcoin is that reform taking place right before their eyes.