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What Is Bitcoin And Why Do We Need To Talk About It?


The world that our parents grew in has changed and the digital era is kicking in. From ordering food to buying homes, everything is virtually digital, and honestly there is no harm in it. Life has become ever so easy; whenever my dad wants me to make a payment for him all I need to do is login to my bank account and voilà, its magic. Whenever I am hungry in the middle of the night, I can just order food from my favourite restaurant without having to even leave my bed. More so I can send my brother a gift all the way in Europe with just a click of a few buttons. But that is not all that this new world has given us.

Bill Gates, Steve Jobs, Jeff Bezos, Mark Zuckerberg, Elon Musk and many more like them are all offsprings of this new age. Even people like Dan Brazilian and Kylie Jenner have all amassed wealth on the back of digital advancements in our ever-evolving world.

But now there is a new breed of millionaires and billionaires, ones that have come in the limelight because of one single digital currency – Bitcoin.

So, what is Bitcoin?

Bitcoin (₿) is a cryptocurrency, a form of electronic cash. It is a decentralized digital currency without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.

Now you must be wondering what a cryptocurrency is?

A cryptocurrency is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets. Cryptocurrencies use decentralized control as opposed to centralized digital currency and central banking systems. And this very decentralized control of each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database.

Indeed, your head must be spinning with all this digital jargon. In simple words Bitcoin is a cryptocurrency and cryptocurrencies are digital currencies that do not physically exist and can only be accessed and retrieved by digital wallets, that again do not exist in the physical realm. So, in short it all exists somewhere in and for the internet.

Who is behind it all?

Back in 2009, an unknown person or a group of people using the name, Satoshi Nakamoto created the first ever cryptocurrency – the bitcoin. To this date, despite speculation, no one really knows who or what Satoshi Nakamoto is.

Some speculate that this digital currency is in fact a product of the Jewish agenda to take over the world, being implemented by the CIA (Central Intelligence Agency) or some other American government body. But in all honesty, no one really knows, these myths could very well be true or just could be mere legends.

Meanwhile, there are some that believe that an alien race of cats may just have invented bitcoin. Considering how evil cats are, my vote is with the alien cat theory.

But whatever the case, Bitcoin made headlines and people either became ridiculously rich or lost it all trying. You see back in 2009 bitcoin was unknown and was a mere few cents. But back in 2017 this very currency that was once a mere few cents touched $20,000 level or $19193.72 to be exact. People who had hopped early onto this digital trend became millionaires and people who followed on later as Bitcoin prices rose lost it all. After a historic peak bitcoin crashed in a matter of days and dropped down to $3000 level.

The world saw big companies change their outlooks and rebrand themselves to adjust to the changing winds of the digital world, but it was far too short lived and after a frenzy, it all died out.

Yet, once again this digital currency (or shall I say a basket of digital currencies) has started to pick up pace. Today, it once again stands at $8,391.34 or almost Rs1,240,408.

But why the sudden jump?

tIf you have been following the world business news than you must have heard of a trade war between the United States of America and The Peoples Republic of China. An economic war that is going to change the landscape of the world as we know it. Although we have nuclear bombs and what nots, but in this age, wars are fought economically, and not with brute force.

As wars have turned economic and financial, so have currencies become vulnerable. And vulnerability creates uncertainty, uncertainty leads to chaos and chaos leads to total collapse. Yet in all of this chaos also leads to unrest and unrest leads to war which ultimately leads to debt, which in this day and age is very important for world control.

The 2008 crisis came because of debt and although I would love to discuss that in detail, but that is another topic altogether.

There are virtually two things that control the world today; the internet and debt. And if you can find a way to merge the two, you essentially control everything. By now you should be able to see a pattern forming, if you can’t let me simplify it for you. As the world plunges into trade wars and as nationalists take control of the world around us, we are being pushed into dangerous times and to survive these dangerous times you need to be digital, while also having zero digital footprint.

Bitcoin or other cryptocurrencies may still seem like a far-fetched fantasy that managed to gain traction once and that was all. But this is just the beginning, the start of a new world order. One that we will not be able to deny.

So, after you are done reading this, maybe look up blockchain and start learning how world events are connected to every spike and plunge in the global economic markets and how it will write our very future.

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