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Education

The Road to Obsolescence: A Seven Year Cycle in Bitcoin.

QUANDL:BNC1/BLX   BNC1/BLX
By 2023             we will be living in a very different world. Cryptographic money may be common, but the layman will not know that he's using it. This money, however, is not Bitcoin . After years of failing to adapt,to its rapidly advancing technological environment, BTC slowly fizzles out into obsolescence.

But the vision of Satoshi is not forgotten. The very meaning of the word "cryptocracy" is being flipped on it's head. The shadow government is loosing its grip on the people, cryptography and blockchain technologies are not only empowering people to take control of their wealth, but also to make their voices heard. True democracy is enabled through the means of provably fair voting systems and smart contracts. Now there is no need for trust, and thus no need for representatives. The people take back the power and are able to govern the world by majority consensus for the first time in history.

Bitcoin will go down in the history books as one of the first stepping stones to the new society. It is a pioneer and we learned a valuable lesson along the way: to once again never trust a single group with the control of the money supply.