Crypto is a controversial topic in Mainstream currencies. Bitcoin and competitors in the criticism of the regulators. So you can use the digital currency for terrible things. The financing of Terror, or the purchase of drugs and weapons are often attached as examples. But crypto-currencies are really a threat to humanity – or the Chance for a new beginning?
With the saying “First they ignore you, then they laugh at you, then they fight you, then you win” led Mahatma Gandhi to India peacefully from the British yoke. The principle of non-violent protest can also be used on crypto-currencies apply.
Bitcoin and Cypherpunks
Bitcoin finds its origin in the Cypher-punk movement of the 20th century. Century. The revolutionary discovery of asymmetric cryptography ushered in a new era. For most people, this will be happening quite unimpressive, but the importance of the new encryption method can not be sufficiently emphasized. For the first time, people of all kinds, it was possible to encrypt information so that only the intended recipient could decipher the message.
To wrote at the beginning of the 90s of the Cypher-punk Timothy C. May’s “crypto-anarchic Manifesto”. May explained that this was a new Era, in which people were able to gain their real freedom and independence. In addition, May prophesied the implications of the technological progress as a Revolution in the social as in the economic sense.
At the same time, he made it clear back then that this technology can also be used for bad things and is.
“The state will of course try to slow the dissemination of technology and to stop, under pretexts of national security, the use of the technology by drug dealers and tax evaders, and fear of social decay. Many of these concerns are valid; crypto anarchy will allow the free trading of state secrets and other illegal materials. An anonymous computerized market will even allow abhorrent markets for contract killers and extortion. […] But this is not the spread of crypto anarchy to stop.“
Bitcoin was a child of this movement, and a Fund has realized the fundamental principle of the Cypher punks. Not last published Satoshi Nakamoto, the first ideas on the Cypher punk mailing list. Bitcoin represents a state-independent payment to the time of the Internet. However, Bitcoin does not meet all the points of the Vision of Cypherpunks.
Transparency and opacity
Bitcoin is a digital currency whose transaction history – the so-called Blockchain is completely transparent. This means that anyone may look at a block Explorer, the many transactions, and draw conclusions about the network participants. But Bitcoin was the only currency the first of all the Crypto and solved, especially the Problem of the “Double-Spending”. Meanwhile, a number of Alternatives and competitors exist.
Monero Bitcoin is the strong contrast. Instead of a completely transparent Blockchain, the Blockchain Moneros completely opaque. In other words, an observer learns nothing about the operations of the network when looking at the Blockchain. No one except the parties involved, learns about who, how often and with whom. With this functionality, Monero is a popular means of payment for all who want to keep their financial transactions secret.
This is not a distant Vision but a tangible reality.
The cat is out of the bag
Depending on your perspective, this development may be good or bad. For the established financial elite such currencies are offensive. Because our money has been transformed from a means of payment in a control system. Banks are not able to see the cash flows of their customers, but also to freeze accounts and payments to censor. This is a considerable Power, it is excluded in many cases from the economy if you have no functioning Bank account. Monero takes the control out of the hands of a small group of people and it returns the users.
Much like the Internet itself, this technology does not stop. The Internet was designed to operate even in the event of a nuclear strike on the us East coast to the West coast. Just as Bitcoin and Monero can’t be turned off. Finally, crypto-currencies are made up of a global network of participants, run individually computer code on their computers. In other words, the battle is lost – or won, depending on your perspective.
“First they ignore you, then they laugh at you…”
The promise of Bitcoin, a independent money in the Internet to be more like the first Time, so strange, that the involuntary reaction of laughter: “What? A currency on the Internet? The work – which is not our current System that replace!“. But even if Bitcoin has experienced one or the other risky Moment (for example, the Bankruptcy of Mt.Gox in 2013), there is the digital Gold. Slowly, the Realisation seems to have arrived, that this Internet has come to stay. The doubters à la Jamie Dimon, Warren Buffet and Bill Gates are not yet silenced, a position, however, is now more diplomatic.
To ignore the crypto-currencies, and to deride, it is not enough to make the technology disappear. The next Phase in the fight against the crypto-currencies. More about that in the next part.