Genesis Mining Mail : Bitcoin: The Future of Money

Hello there,

So - you’ve seen what the great minds of the world think about Bitcoin. And you’ve also had a peek at the hardware we’re packing - but do you know why we’re so invested in this new currency craze?

Because Bitcoin is the future of money - and we want to be a part of it.

In order to see why Bitcoin is the future, it’s important to understand how money changed history - and how history changed it.

Early trade relied on bartering - exchanging a dozen eggs for a chicken; exchanging a few cows for a wife. Some civilizations even traded goods and services for promises of payment in the future - but it was awfully hard to keep track of, and assign, an exact value to each of these credits.

And so, we invented money.

At first it was simple things - like stones or seashells. A few thousand years and we moved to precious metals and gemstones; but all of this became difficult to store and transfer. Paper money was the next big thing; your gold or silver was exchanged for various amounts of paper slips, and voila! At any time, you could use that little slip to grab a hint of silver or a drop of gold.

Over time, trust in banks grew - and the governments (who controlled the banks) realized that they could print more money whenever they needed it. Debt and inflation followed soon after; a quick solution brings about quick problems, after all.

This system cannot continue forever - these currencies will be eventually completely devalued. There are over 10,000 types of paper currency in the world, and all of them are subject to the whims of a government; it can be easily forged, lost, or destroyed. The world needed a new solution.

And one was made.

Bitcoin is the future. It’s durable and divisible; it’s verifiable and valuable. It’s all the things an ideal form of money should be, with the principles of mathematics - the same principles that dictate our world - ensuring that it retains these attributes. We think it’s time to invest in a new form of money - one that isn’t controlled by countries; one that is supported by mathematics; one that is open source and understandable. And so we’re putting our money where our mouth is (quite literally), and opening the doors to making Bitcoin available to all. As always, we’ve created another infographic to guide you through this journey of money, and the future of finance.