Media doesn't talk about Bitcoin very often. When they do, it tends to be negative. Love it or hate it, is Bitcoin one of the few remaining examples of true capitalism?


If you haven't been paying attention to Bitcoin lately, you should be. If you don't know what Bitcoin is, the simplest way of explaining it: Bitcoin is a digital, decentralized currency, which is traded an an open source, peer to peer network. Kinda confusing , right?

Bitcoin can be bought with dollars or euros or just about any currency and then it's traded and can be sold in any currency. What makes Bitcoin so unique, though, is that it is virtually an anonymous currency. Now to be clear, nothing is entirely anonymous, and there are ways to connect a Bitcoin user with their Bitcoin wallet; but certainly it's more difficult than dollars.

Bitcoin has been growing like crazy over the last few years. I actually just learned about it a few months ago. And at times, that growth has been volatile. As it's growing, media doesn't really talk about Bitcoin. At least until a few weeks ago when the FBI shut down the website The Silk Road and arrested its owner. Silk Road was best known as a site where illegal drugs were bought and sold anonymously with, you guessed it, Bitcoin.

Now at that time some claimed that Bitcoin was done. And yet it wasn't. In fact, right now Bitcoin value is soaring, trading around $200 for one Bitcoin.

Why? Well consider this: two years ago one Bitcoin was worth less than one dollar. And again, today it's trading one Bitcoin for 200 bucks. Granted, Bitcoin is volatile. It's crashed and it rises again. And it could crash again.

So why do so many people keep coming back to Bitcoin? Because Bitcoin's greatest value is that it cannot be manipulated by governments or central banks (imagine that). It cannot be changed by monetary policy coming from the IMF. If governments don't like Bitcoin they can't come in and raid the Bitcoin offices and take away the Bitcoin bosses because there is no centralized authority from which to shut the system down.

In fact the most attractive thing about Bitcoin is that it may be the worlds best example of capitalism. Real capitalism, not crony capitalism: but a system controlled by users; traded at will; completely voluntary to participate in; and can't be manipulated by governments, bankers, corporations, or even the U.N. People trading with people. What an original idea.