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What If Bitcoin Fails?
And what it means for humanity.
You will have read a great number of articles here and elsewhere extolling the virtues of bitcoin. Anyone who has been paying attention to the treasure trove of information from some of the most informed commentators will come to appreciate that the bitcoin phenomenon is like none other in the 500 year history of finance.
There are numbers of people, who have also taken to describing Bitcoin as a ponzi scheme. This viewpoint betrays the tragedy of their profound financial illiteracy or their intellectual dishonesty.
But with the current dip, it isn’t entirely unreasonable for us to think of a world without Bitcoin. Which is why I have taken the time to spell out the intrinsic advantages of the greatest contraption of our time and what its failure means for humanity.
If Bitcoin fails, privacy fails.
The facility of individuals to send and receive value, without the overbearing presence of the government and the banking system will be lost. Bitcoin allows for people to have private access to their funds.
If Bitcoin fails, censorship wins
Despite appearance to the contrary, we live in the age of great censorship. Censorship from the government, big tech etc. The preeminent cryptocurrency of our time is the most secure…