Zachary Daniel: Bitcoin is no pretender | Letters

Bitcoin is no pretender

There are many connotations floating around about Bitcoin. The digital currency has been correlated to drugs, crime and many other nefarious actions during its decade-long existence. Many don’t understand how it operates, don’t trust it or are perplexed how it has garnered any monetary value.

The interesting thing about Bitcoin is, it means something different to everyone.

Often, when one examines something closely, it gets uglier. Either the rosy perception that was presented has some darker undertones, or there is a fraud and corruption systemic within.

For Bitcoin, this is the opposite. The longer one examines Bitcoin, the more the realization dawns that this is a generational invention. A currency born of the free market for the free market, outside of direct control by any one entity. A system of digital money storage and transfer that cannot be duplicated, forged, or have its supply inflated by any bad actor or government. A money that does not need a third party or any permission to be sent and whose every transaction is recorded on a open ledger (blockchain).

Bitcoin is remarkable in that no one can tell another what Bitcoin exactly represents or how to value it. Its value and use is not forced or determined by any government or actor. This is something the world hasn’t seen before and what volumes that speaks cannot be overstated. Bitcoin has only begun and will continue to shape our lives.

Zachary Daniel, La Crosse

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