Bitcoin came into the world with a very quiet and humble whisper that very few people heard and even fewer understood. Its birthmark is a political statement against bank bailouts and their arbitrary nature, and its goal is even more ambitious: to separate money and State.
On its 12th anniversary, Bitcoin is roaring – and it reveals the tendencies of a rebellious teenager. Given all the insults that it had to take over the years, it’s only normal to strive to prove all critics wrong. Mainstream economists called it a Ponzi, a pyramid scheme, and a bubble. As a reaction to these claims, Bitcoin only became more decentralized and saw an increasing demand across global markets.
At the same time, Bitcoin has a long history of being misunderstood or feeling pressured to change to fit someone’s agenda. Even some of its so-called “friends” said it was too slow and tried to undergo drastic interventions to modify its properties. But those who did understand Bitcoin have found ways to allow it to flourish without compromising its qualities. Real friends don’t try to change you, but help you improve.
Today, hedge funds and investment firms consider Bitcoin to be their new “golden” asset – and they find this partnership mutually-convenient, as Bitcoin can help them run away from inflation and taxation. Even regular folks have understood that Bitcoin protects their wealth a lot better than any government, thanks to the high network security and due to the arbitrary nature of private property protection and confiscation.
So we shouldn’t be surprised if 12 year-old Bitcoin rebels against everyone around. The line between allies and foes is still thin. Some critics some turned into believers, while some supporters have turned into annoying foes. Even though it’s clear what Bitcoin is and what it’s trying to accomplish, there are still people who disagree with the mission or think it should play out differently.
What we know for certain is that everything is set in place for Bitcoin to rise. Against all odds, in spite of all critics, and without any mercy or concern for non-believers. On January 3rd 2009, Satoshi Nakamoto has released Bitcoin to the world with a very clear mission. And at this point, Bitcoin the teenager seems a lot more likely to succeed than to fail. Fiat money and central banking, your days are numbered. Happy 12th birthday, Bitcoin!
If you enjoyed this article, check out the piece that I wrote on Bitcoin’s 10th anniversary in 2018: “At 10 years old, Bitcoin is a wunderkind who’s fighting for our freedom“.
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