I would like to outline some of the operational processes of Bitcoin. I know … many of you are very intelligent and understand Bitcoin well, but there has been a recent upheaval in the core philosophy of Bitcoin. So, if I may, let’s see again how Bitcoin does what Bitcoin is good at.
On the one hand, there are the miners. The coveted workers of the Bitcoin network. Strive to search independently for the magic hash that the block reward brings in with its many trillions of guesses per second. The key word here is independent. Are they attacking each other to gain an advantage over the other? No. Are they working to undermine the resources or skills of their miners in order to gain an advantage? Negative. You just try as hard as anyone can hopefully to find the sweet spot that solves the next block’s algorithm. Bitcoin miners do not commit more violence against each other than participants in a lottery or bingo game.
Second, as the miners are all seeking a reward for their independently pursued efforts, they are simultaneously securing the network for every single hodler and speculator who has any amount of fortune secured by the protocol. What does that mean? As the miners advance in their quest for rewards, they are undermining the entire network by securing it with pure energy – because if the attack on the network had no energy cost, it would be a pretty soft target.
Next we have the knots. Bitcoin’s accountants. Struggling to confirm that each bitcoin is being sent and received as intended while confirming these transmissions with the rest of the network. At the same time, this offers an additional level of security. Constant and consistent triple bookkeeping that provides added reassurance that every Satoshi is where they should be.
Where is this “violence” that I keep hearing about …?
Bitcoin does not exercise violence. Bitcoin goes beyond any strategy of violence. Thanks to the processes mentioned above, Bitcoin is not only incorruptible and unhackable, but also invulnerable (for a detailed insight into these functions, I recommend reading this article).
Any effort (force) that can be put against the network only makes Bitcoin (the network denoted by the capitalized B) stronger – by proving the effectiveness of its decentralized security state, confirming the trustworthiness of the accounting department, and not the nature of its 100 – to mention percent seizure resistance – depending on the security measures taken.
I said this nausea on Twitter so I apologize to my followers for being dragged by the repetition of my recent activities. But this is paramount to understanding the newly anointed members of the fellowship.
Bitcoin is an asset that exalts EVERYONE, friend or foe. Bitcoin doesn’t care about your or my own policies. Block by block, it protects the herd. We can all rest assured that our funds are protected and free from forcible seizure.
Through this dynamic, Bitcoin transcends violence – political, physical, or economic in nature. Bitcoin encourages collaboration, and trading becomes the most beneficial way forward – or for all parties.
Bitcoin doesn’t use force, it doesn’t have to. Each force involved is the force of circumstance over the infinite money printer (BRRRRR). All who have come to BTC do so voluntarily, no freedoms are violated.
Bitcoin is the successor to violence.
This is a guest post by Mike Hobart. The opinions expressed are solely their own and do not necessarily reflect those of BTC, Inc. or Bitcoin Magazine.