Bitcoin going up, bitcoin going down. Some people say it's a scam; the biggest pyramid scheme in history. Others say it's the future, the greatest revolution in finance/economics since the spread of the internet in the '90s.
It may be a scam, it may be a revolution. Who knows.
Internet needs a global currency; some kind of artifact to pass value from one person to another virtually (without intermediaries). Some kind of artifact that doesn't lose value over time. Bitcoin or shmitcoin, who cares.
It's kind of weird and interesting at the same time that modern society works by interchanging papers with monarchs printed on them. Some people wearing suits and ties manage those papers and validate how many papers everyone has in SQL databases.
With those simple elements, they can move society. If society is consuming in excess (according to their inflation criteria), they print fewer papers, and SQL queries become more expensive. If society is not consuming enough, they turn on the printer, and et voilà, society can increase their SQL records for free.
If you think that bitcoin is a scam, think about how the current financial system works. Remember how everything can collapse in a matter of days when a bunch of people go to the supermarket and try to transform those SQL numbers into toilet paper.
If you think about it, we are lucky that people want to keep their SQL records high. Otherwise, everything would collapse. Imagine Jeff Bezos interchanging all his money into real-world products; the world would run out of resources quickly.
Hi, I'm Erik, an engineer from Barcelona. If you like the post or have any comments, say hi.