Why Bitcoin Matters? – Census

Why Bitcoin Matters?

As you might have heard Bitcoin is digital money. It allows for low cost, peer to peer transactions, anywhere in the world. Bitcoin is neutral (no governments, no central bank, nothing controls it) gives you full control over your money — no need for banks or credit card companies to be involved.

So many talented economists, researchers, scientists, and others wrote about Bitcoin and its financial proposition. I will not try to paraphrase them but instead will list a selection of articles and posts that offers a very comprehensive overview.

Why Bitcoin Matters

 Editor’s note: Marc Andreessen’s venture capital firm, Andreessen Horowitz, has invested just under $50 million in Bitcoin-related start-ups. The firm is actively searching for more Bitcoin-based investment opportunities. He does not personally own more than a de minimis amount of Bitcoin.

A mysterious new technology emerges, seemingly out of nowhere, but actually the result of two decades of intense research and development by nearly anonymous researchers.

Political idealists project visions of liberation and revolution onto it; establishment elites heap contempt and scorn on it.

On the other hand, technologists – nerds – are transfixed by it. They see within it enormous potential and spend their nights and weekends tinkering with it... Read the article



Bitcoin Is Magic Internet Money

Week of Jan 5th, 2020

There may not be a more perfect representation of Bitcoin and its early community than this drawing created in Microsoft Paint, portraying a wizard in a blue cloak holding a staff with the slogan “Magic Internet Money”. The illustration was created as a promotion to entice users on Reddit to learn more about the currency and join the Bitcoin specific forum. Its reception was overwhelmingly well-received, and in part, helped build Bitcoin’s brand awareness. When the advertisement went live, the community consisted of a little over fifty thousand subscribers and the price of bitcoin was still under three hundred dollars. For reference, the same forum is currently 1.2 million users strong. There were even almost 600 comments discussing the promotion and drawing itself. The thread is filled with Bitcoin users tipping other users with the “magic internet money”. It was an example of a true grassroots and community-driven marketing campaign for, which at the time was still an incredibly niche community.

A subreddit moderator for r/Bitcoin made a post asking the community to help create and brainstorm ideas for a promotion. Within the hour, the user /r/mavensbot submitted the iconic image. He later went on to say it supposedly only took five minutes to illustrate it.  Read the full article from Rhythm Trader