thank bitcoin in thanksgiving day

Should We Thank Bitcoin or Shouldn’t in this Thanksgiving Day?

Thanksgiving day is for all! We should thank all of them who take part in changing our lives. Be it a person, a product, a service or something else, we need to turn our focus on people, things and events that make our lives better. And, provide reasons to feel grateful. While thanking family members on the dinner table is an excellent way to express appreciation, those of us fall in the bitcoin rabbit hole have a few additional reasons to show gratitude.

Why Should You Feel Thankful for Bitcoin in this Thanksgiving Day?

Whether we like it or not, the revolution that the entire cryptocurrency world brought has changed our views on finance. The simple act of learning why and how this decentralized currency comes with transformative effects has changed many lives. But Bitcoin is much more than an economic theory today. It has indiscriminately empowered millions of people worldwide to store value and transact. If truth be told, then governments and transactional corporations are on the continuous move to adopt this technology.

Top 3 Reasons to Thank Bitcoin Today

Bitcoin is Robust, Conservative and Predictable

Changing rules overnight in most of the countries out there is a matter of majorities. Even checks and balances in the United States can bring slower changes. However, the situation can become unpredictable in a matter of days. On the other hand, changing rules in the case of bitcoin is a lot more difficult. To pass the bill in the US, you can draft and submit to elected officials from both the house of representatives and the senate to vote for it. However, Bitcoin requires the consensus of a majority of user nods and support by the miners to make a little bit of change. There is always a threat associated with changing rules in the chain, and thus, everyone is incentivized to go with the existing rules. And too much consensus changes will lead to faulty decisions that can further destroy the value proposition of bitcoin.

It’s called the Nakamoto Consensus. Its one of the finest uses found in finance, politics and computer science.

Being able to decide what perfectly suits your needs is powerful, and Bitcoin provides an important lesson about maintaining harmony while incentivizing self-interest. In addition, Bitcoin keeps us reminding why financial stability matters. This is evident that why we should be thankful for Bitcoin. Because nobody can promise transparency, robustness, and predictability in this era of global uncertainty surrounded by reckless political decisions other than bitcoin.  So, thank you Bitcoin on this Thanksgiving Day!

Bitcoin Teaches the Importance of Verification

The world we live in is full of blind trust. Formal education teaches us to follow hierarchical authorities and trust their competence fully. On the other hand, Bitcoin teaches us “don’t trust anything; verify everything”. Bitcoiners get early access to nods i.e. transparent and tested before onboarding any exchange. Doing so, the chain not only checks the validity of your transactions but also keeps you in the right chain. It also ensures your privacy is fully protected by storing all the data on your hard drives.

Banknotes and Gold require human efforts, special tools to check the validity; however, bitcoin nods do the same thing with much faster efficiency and accurately. Human errors may found in the earlier case, but in the case of Bitcoin, there’s no scope for error. This makes sure a strong foundation for the underlying economic system. Hence, we should be thankful to Bitcoin for its whole mechanism of quick verification.

Like the Bitcoin 2020 Keynote Speaker, Nick Szabo always says “Trust Scales Poorly“. That’s why we need to verify transactions promptly while dealing with a decentralized network.

Bitcoin is Scarce Like Time & Money

While the fiat money is heavily depending on the printing habits of central bankers, Bitcoin reminds us of a different era where money was scarce. And, is backed by only resource-intensive mining. Everything that we see around us is limited and scarce. Bitcoin teaches us how to embrace these limits to make the most out of them. We should thank Bitcoin for teaching us the real value of balance and virtue.

Bitcoin is Irreversible

Human actions and constructed norms often make us think that they are erasable. But the bitcoin world is different. Transactions and information once added can not be erased. Files and messages once added to the blockchain will remain there forever.  There is nothing anyone can do about it. Bitcoin also teaches us about responsibility. Once you entered, you can’t fool anyone about anything happens inside the chain. Thus, we should thank bitcoin to broadly describe that objective truth exists.

To sum it up, we should definitely thank bitcoin on this Thanksgiving day. Without bitcoin and blockchain technology, we can’t think about the progress we have made to date. The unique technological advances of Bitcoin increase individual responsibility, preserve human rights, and protects free speech. Satoshi Nakamoto’s invention has certainly become a tool for bringing financial stabilization.

So, we should thank Bitcoin for all this! What do you guys have to say? Agree/Disagree!!!

 

 

 

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