I would like to lay out a few of Bitcoin’s operational processes. I know… many of you are very intelligent and grasp Bitcoin well, but there’s a recent upheaval in the core philosophy of Bitcoin. So, if I may, let’s revisit how Bitcoin does what Bitcoin is good at.
Firstly, there are the miners. The much-sought-after laborers of the Bitcoin network. Toiling away, independently seeking that magic hash that will yield the block reward with their many trillions of guesses per second. The keyword here being independently. Are they attacking each other in order to gain any advantage over the others? No. Are they working to erode away the resources or capabilities of their fellow miners in order to gain an advantage? Negative. They are simply putting forth as much effort as each is capable of in order to hopefully find that sweet spot that solves the algorithm of the next block. Bitcoin miners are no more committing violence against each other than the participants in a lottery, or a game of bingo.
Secondly, as the miners are all seeking reward for their independently-driven efforts they are also simultaneously securing the network for every single hodler and speculator that has any amount of wealth secured by the protocol. What does this mean? As the miners drive ever onward in their quest for reward, they are uplifting the entire network by securing it with pure energy— for if there were not an energy cost to attacking the network, it’d be a pretty soft target.
Next, we have the nodes. The accountants of Bitcoin. Toiling away to confirm that each bitcoin is sent and received as it was intended, whilst confirming these transfers with the rest of the network. At the very same time, this is providing an additional layer of security. Constant and consistent triple-entry accounting, providing further assurance that every satoshi is where it should be.
Where is this “violence” that I keep hearing about...?
Bitcoin does not engage in violence. Bitcoin transcends any application-of-force strategy. Thanks to the processes stated above, bitcoin is not only incorruptible and unhackable, but also unseizable (for a detailed look into these functions, I recommend reading this article).
Any amount of effort (force) that can get expended against the network only poses to make Bitcoin (the network, signified by the capitalized B) stronger — by proving the effectiveness of its decentralized security state, confirming the trustworthiness of the accounting, and not to mention the nature of its 100% resistance to seizure — depending upon the security actions taken.
I’ve been saying this ad nauseum on Twitter, so I apologize to my followers for being dragged through the repetitiveness of my recent activity. But this is of the utmost importance in understanding for the newly anointed members of the community.
Bitcoin is an asset that uplifts ALL, regardless of whether friend or foe. Bitcoin does not care about your politics, or my own. Block by block, it protects the flock. We can all rest assured that our funds are protected and free from forceful seizure.
It is through this dynamic that Bitcoin transcends violence - political, physical, or economic in nature. Bitcoin promotes cooperation, and trade becomes the most beneficial path forward —or all parties.
Bitcoin does not use force, it doesn’t need to. Any force that is involved is the force of circumstance by way of the infinite money printer (BRRRRR). All that have come to BTC do so by choice, there is no infringement upon any freedoms.
Bitcoin is the Successor to violence.
This is a guest post by Mike Hobart. Opinions expressed are entirely their own and do not necessarily reflect those of BTC, Inc. or Bitcoin Magazine.