Sunday, June 8, 2014

I love Bitcoin, because it is Economy Automation Software

Bitcoin is Automated Payment Network, which value is coming from itself, from the automation mechanism which works 24/7 and maintains every payment in the network precisely and without errors.
In my own words the word mining isn't good enough to describe. Mining is sustaining the network, mining is making work necessary to process payments. So miners are payment processors. To become a miner you don't have to know protocol, because this is Economy Automation Software, and once you installed payment processing software (mining software), you are becoming payment processing center, and the software itself handle the payments.
I've always loved the idea of Artificial Intelligence. Bitcoin is the closest software to the artificial intelligence I know up to date. Bitcoin can't think for us, but at least it can think for us, how to handle our money which is one of the most important assets for humans.
Why Bitcoin is similar to Artificial Intelligence? Because it removes the human factor. When people talk about energy usage & Bitcoin, they often don't mention how much intellectual energy consumed to produce and maintain fiat money.
Ask those employees, how much hard work it takes to produce fiat money, to make it secure, then what it takes to start massive production, to design those machines that will massively produce money.
And on each step of fiat money production there's a robbery. Once people get another legitimate batch of fiat money in their hands, handed by a budget in most countries are handled by public civil servants in the world. Many of those people are corrupt, and for some of them robbing people in an agressive special ways is a family business. Some of their businesses exists since 1825.
My name is Earl Fox. From the beginning of 2014 in my blog I'm talking only about cryptocurrencies and I obsessed with them. Visit my blog to find my other thoughts at earlfox.com

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