When I was first learning about Bitcoin [(and blogging/interviewing at BitcoinBulletin), the Blockchain/Public Ledger protocol, the monetary policy implications, i.e. how it could impact the world for better or worse] in those early days it was fascinating and exhilarating.
Then I bought a few (in mid-2011), and I became obsessed with the price of Bitcoin --> I stopped writing --> and I began missing-out on all that made the movement fun to partake-in to begin with. I think this is the fate of many, and it's saddening.
Since then (over three+ years), I have formed the opinion that (assuming it can survive/endure the attacks as it always has) Bitcoin will have a resoundingly positive effect on the life of the average citizen of the world.
That being said, I have noticed that there is an INCREDIBLE amount of negativity and mis-information in the mainstream media (and even on /r/Bitcoin on Reddit). It is simply disparaging. People don't get it. At all.
Here are three, simple reasons that the world would be a better place if Bitcoin survives long term:
1. Economics: If the dollar begins to compete with other Big currencies of the world, there would be a flow of money out of equities and into commodities (Oil, Pork Bellies, Orange Juice, Gold, Silver, etc..). Bitcoin would serve as a new store of value that would not harm the quality of life of the average person (as rising oil prices (etc) would).
I don't believe that Bitcoin will be the responsible party in the fall of the dollar, but I do think that it will "soften the landing."
2. Freedom of Information: Although the Bitcoin protocol is not optimized to disseminate information -- it achieves that goal in a unique fashion. As you probably know, you can bake extraneous information into the end of a Block -- or treat transactions themselves as lengths of verifiable data. With checksums and public/private keys - there is the potential to counteract the censorship of information that States (with a capital 'S') can surreptitiously "get away with." As a Free and Open Internet Activist (yes, I've gone to jail over publicly challenging copyright laws!
), I see Bitcoin as what can hold the internet up by its britches and keep it from falling further under the influence of untrustworthy stewards.This point (#2) is also the reason I feel that if Bitcoin's network ever shrinks to an easily--attack-able size, a similar p2p protocol may never be given the light of day again --- it's simply too dangerous of an idea for totalitarian regimes to willingly allow to exist.
3. Transparency in Finances: This is the one that really irks me. Major institutions, like Hospitals, are supposed to have 100% transparent finances because of their "Not For Profit" status (which is a farce to begin with.) Furthermore, google "Not For Profits misappropriation of funds" - and you'll find that many NFPs (like Lamar Odom's or Gordon Brown's etc etc) do not allocate their money as promised. Finally, many of these NFPs have insane overhead expenses (the vast maj. of which goes into the pockets of the organization members). Few laymen can quickly spot such financial injustice because the flow of money is secret -- between bank accounts and private channels. Bitcoin businesses are, by default, transparent.
I have ideas that I plan to set in motion for #3, but the reason I'm making this post is because PLEASE BE POSITIVE with regards to Bitcoin this Holiday Season. You can make/print-off/email some totally FREE Christmas/Happy Holiday cards at my two-week old website (see footer).