The Holy Grail or Manna, or maybe none of these?
Bitcoin, a word that may be almost every person that has a touch with a PC have heard at least once. Some heard a lot. Others did the research. Got involved. Invested. Lost money. Made a fortune and many, many, life-changing stories. What we are going to talk this time is what actually the purpose of bitcoin is. Is it the Manna, or is it just a tool that people really didn’t understand. Moreover, its creator’s intentions.
As we know the biblical meaning of “Manna” is “miraculous supply of food that the Bible describes God providing”. With other words, that’s God’s food. A magical food supply that is provided by God. With that analogy, many see bitcoin as the Manna and Satoshi as the Creator.
That makes sense at some level. As we have the product, but none has seen and touch, nor talked with Satoshi. He is he. Someone in our heads. The Creator.
Bitcoin, the Manna of 21st Century
Then, we have his product that as humans we twist, bend and use by all of the meaning of the words for our good. Some see the Evil in it, and some see the Good. And many see it as the salvation for poverty. Now, we would like to discuss with all of what is the meaning of it. Should we really accept bitcoin as the miracle “food supply”, or with other words, the tool that will make us rich and we will be retired at an early age? We would say many have fallen badly in this pink lie. Bitcoin is tech innovation, but not salvation.
Our Staff writer had really good points in the article about The Bitcoin – Wealth Creation Mechanism of the 21st Century. Ready carefully the title, it’s a mechanism, a tool. It does not guarantee you your wealth and good in the future.
Satoshi used the following words in his white paper:
A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.
When we read carefully this sentence there we can’t find that bitcoin is going to help for the world’s problems. The idea of the actual coin is to eliminate the middle man who is taxing all of us, huge amount of money whenever we want to transfer money from point A to point B.
Everyone is free to accept bitcoin as they please
With that being said – the title is correct. Why if someone accepts it exactly as a miracle and salvation should be wrong? We believe there is nothing wrong with it, it’s just a different angle of view. And this is the good part of bitcoin, giving thousands of opportunities to everyone and all of these opportunities are under one umbrella – freedom.
Back to roots and humanity
After all of that discussion and sharing an opinion, we again end were as a start. We humans and how we are going to use the bitcoin. For what purposes. Bitcoin by itself is not going to do anything. But how the humankind will use it is a way different story. Are we going to utilise it properly and fight poverty with it? Are we going to its technology and come up with great tech ideas that will help within other sectors in the World? Or are we going to use it as a tool to supply terrorists, kidnappers and drug dealers around the Globe?
Let’s get back to mother Earth and step on the ground
As we know there are many goodies that we can purchase and use by paying with bitcoin. But no one with their right mind would actually pay for anything with bitcoin if the prices are going up. As if they do that within a few hours or day their bitcoin will have a higher value. It goes the other way around too. Who would accept bitcoin when the prices are going down, as the goods they are offering will actually lose value by being paid out with the coin? And again, paying with small amounts of bitcoin is not cheap. There is a fine level where transferring and using bitcoin as a payment method is worthy. Not going to mention that it’s still slow as around 5 transactions are possible per second. Imagine billions of people using it for small payments, transaction fees would skyrocket.
Let’s repeat ourselves. Bitcoin is a tool and how we are going to use it is up to us. It’s not a World’s problem solver, but we as humans if manage to use it properly, we definitely can accomplish more, than we can lose. Your opinion on that?