Bitcoin is to money what e-mail is to mail.
Back in the infancy of the Internet it was a widely accepted belief that the Internet would never succeed. One specific technology born out of the Internet was the emergence of e-mail. Pundits of the 90s and early 2000’s mocked at how such a technology would never cease to be useful, as it was the responsibility of the postal system to ensure text based communication reached the masses around the world.
Boy were they ever wrong.
What gave e-mail the upper hand was not the fact that it was digital. What gave e-mail it’s edge was that it was built on an open source and inter-operable protocol. A protocol is a generally accepted set of agreed upon rules of communication that allows various participants to access a network. Common examples of protocols we use on a daily basis include:
VOiP - through video chats
TCP/IP - to access the internet
SMS - through texting
SMTP & IMAP - through email access
The various postal systems and other messaging services had inherent friction built into them that made them less appealing to a wider population. E-mail’s SMTP and IMAP protocols allowed for users around the world to send messages to and from each other seamlessly. Because these technologies are also open source in nature it allows for anyone to build a better way to access the network and improve the email experience.
Like e-mail, Bitcoin is a protocol.
Around the world there are hundreds of various currencies. Exchanging these currencies can be a costly endeavour for both individuals as well as businesses. The network participants like to take their cut, and rightfully so they have costs to cover. This can get expensive, and cumbersome. Have you ever had to send your money to another country via a wire transfer? If you have you get it. Pay $25, fill out a form, and hope that your money arrives to its destination in 10 business days, though it can sometimes take a month.
This is a old way.
Bitcoin is the new way.
For the time in human history, Bitcoin serves as the common link where all people around the world are able to exchange economic value with each other under a common medium. The Bitcoin network doesn’t know who you are, nor does it care. All you need to access the network is a bitcoin wallet on a device that has a connection to the Internet; this is no different than a computer with access to an email client or a web browser.
Once you share you address or get someone else’s you are ready to exchange value with the rest of the world. The best part is that no bank or government can stop you either.
Welcome to the future.
HODL on.