Tuesday, 20 June 2017

Why Bitcoin is So Appealing

While the Bitcoin exchange is something that is already underway, and people buy & sell bitcoin very casually at this point, there are still many sectors of the population that find this entire ordeal alienating, and much too convoluted at first glance, at least enough to no give it a second look.

Most people understand that economics and finance aren't magic, but most of us also don’t know the intricacies of how economics operate. And, as the sub-prime mortgage crisis of the late 2000's demonstrated, those who are in the know are profiting and even counting on our ignorance even if they themselves might be ignorant too as most economics are made purposefully difficult to understand in order to alienate most people from monitoring them as, people would say sports. As the very nature of money is a amorphous abstraction, its source, and the source of its power, never seems to be anywhere. This strategy of linguistically keeping information at arms’ length from the everyday citizen and a consumer is called technocratic discourse.

Anyone who has turned to a lawyer, a doctor or a computer technician for support knows the drill of, never mind how dense the language or nature of the problem, we are always expected to trust the expert. But how does this technocratic babble affect us, the consumers?

Well, it not only ensures that people defer trust and tasks to who we perceive to be more expert minds but also has us dependant on them continuing to relay us from all involvement in our money. And, given how complex finances can be, as anyone who has tuned into a financial show and felt they’ve been watching a foreign film without subtitles, we do welcome the relief of delegating the finance world to others. 

But, where bitcoin comes in to, let’s say “save the day” is by the grace of diluting it all down to the most comfortable aspects of everyday online banking, only without fees. And now it’s all as simple as transferring money in a system that can’t be tampered with by anyone, even as much as many would like to.

No comments:

Post a Comment

Bitcoin is More That a Virtual Coin      In the world, millions of people are already transacting and operating with Bitcoin. The ...