Response to @Heiditravels, “Why Bitcoin?”

in #curie6 years ago (edited)

Screenshot_20181030-145254_Gallery.jpg

I consider the question posed by @heiditravels when she asks in her latest instalment, "Why Bitcoin?"

Good afternoon Heidi!

I'm glad this article came out when it did, @heiditravels , because it coincides with an article I wrote very recently myself that mirrors what you've discussed today.

Why was bitcoin created?

There are some fundamental flaws in the current state of affairs and once all the speculation has been removed from the cryptocurrency market, we'll have everyone on board using "fair money" with a fair valuation that can't be messed around with by government and other centralised bodies.

Sadly, one could argue that coins that use mining algorithms that are susceptible to ASIC miners are inherently a form of centralisation - that is, those with the money to purchase these miners (often, en masse) and know how to operate them with the available cashflow to pay for electricity expenses will have greater control of the network itself.

Currencies like Monero or Monero forks such as Safex Cash have the potential to ensure decentralisation, as mass adoption occurs, while blocking the impact of ASIC miners. Even home computers and laptops can mine the currency which is an excellent facilitator of adoption for the "Regular Joe", knowing they're important to the network and can have a fair slice of the pie.

Upcoming article!

I'm still working on a piece where I break down the Safex Blue Paper which will help unravel some of the jargon. This is aimed at people new to cryptocurrency with a limited understanding of the need for blockchain technology and an alternative, anonymous way to transact.

The ASMR Circus.

Interestingly, one of my favourite ASMRtists (A person engaged with the production of videos that trigger an Autonomous Sensory Meridian Response) created a whisper video reading from an X-Men comic. When she got to the 'letters' section, the editor discussed an alternate future where comics were used as currency. Flawed, but fascinating! Of course, none of it was meant to be taken seriously. After all, they even suggested the comics be printed on bread to crimp back-issue sales.

Thanks for your regular Steemit contributions and I hope this response finds you well.

All the best,

Nick.

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