In Defence of Bitcoin

Hamad Subani — Jan 20, 2014

The rise of Bitcoin is relevant because unlike banker-created currencies, the number of Bitcoins in circulation will always be finite (20 million). It’s not like Federal Reserve notes, which can be printed as per the needs of The Powers That Be (similar to the way Ben Bernanke adjusts the speed of his treadmill). This makes the Bitcoin inflation-proof.
Of course, the Bitcoin can be subjected to shock and awe by suddenly releasing Bitcoins which were hoarded for years, but even such effects are temporary.
Apart from being a currency, Bitcoin is also a medium of monetary exchange. As a medium, Bitcoin logs all transactions to a register, which is highly decentralized, and operates through a peer to peer network, making it very difficult to kill. (They couldn’t kill illegal file sharing networks, so good luck with Bitcoin).
The Powers That Be might have to kill the Internet to kill Bitcoin, which they won’t because many of their commercial and surveillance activities are now dependent on the internet.
While Bitcoin does log all transactions to a register, it does aid privacy by not obligating the bearers of Bitcoins to authenticate themselves (as in the case of plastic money). And The Powers That Be are hell bent on destroying economies where people can transact freely, in the absence of predatory taxation authorities and the monetary perverts known as the banking industry, who always watch where capital is moving.
The writing is on the wall. The Powers That Be Hate the Bitcoin. But if that is not clear, here are some instances:

Apple Hates the Bitcoin

Continues …

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