CC#009 - Bitcoin To The Rescue?
Why Bitcoin Should Be A Macroeconomic White Knight, But Isn't Right Now.
The very first (‘Genesis’) block of Bitcoin gives anyone curious enough to look an idea as to why Bitcoin was created.
Embedded within the Coinbase parameter1 is some plain text:
“The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”.
The very first block of Bitcoin referenced the financial issues that Bitcoin aimed to resolve.
Expliclty, Bitcoin is openly attacking an out-of-touch banking system founded on the financial quicksand of fiat currencies.
The same fiat currencies that continue to be actively mismanaged by corporate agents (corporate banks), governments and central banks with heavy economic vested interests.
Most despairingly, the corporate agents were aided and abetted in their destructive efforts rather than protected by the bodies that were supposed to regulate them (credit bureaus, rating agencies).
However, in 2009, Bitcoin had a more significant problem - no one had heard of it.
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