Bitcoin: The Money of The Internet (Read: 21st Century)
Since Bitcoin arises out of the Internet, there is certain to be not only a generation gap in understanding, but also skeptics the world over who make good points about the monetary options’ legitimacy and viability. But, above and beyond the practical applications of Bitcoin, there is a moral aspect. Feuerabend, in his book Against Reason, wrote that, in scientific inquiry, “anything goes.” When it comes to undermining the dominant financial system and declaring our own independence from the historical rulers as a collective, GoldSilverBitcoin believes “anything goes.” Each individual will find his or her own comfort in using alternative currencies, and so they should only do so within their comfort.
What is Bitcoin?
Bitcoin is a whole new global monetary system. It functions as not only a currency, but also a payment network for that currency. Its conception comes at a time of heightened global economic tensions and amidst a global awakening to the world power structure. That is part of the digital currencies intrigue. For any individual interested in using Bitcoin to divorce themselves from the dominant financial system, doing quite a bit of reading and educating comes highly recommended.
Dialysis for society, by using an alternative currency, can be a dangerous exercise in bravado, naivete and courage for those who partake in the procedure. By using alternative means of doing business – whether it be locally with precious metals or internationally with Bitcoin – one then begins the process of changing their perspective on the clank of exchange. Bitcoin is many things, one of which is an intriguing technical and scientific feat. It is a digital currency unit and it is a global payment network through which one can send and receive the Bitcoin currency units. It frees humanity up in ways more meaningful than other p2p revolutions, such as file-sharing, torrents and telecommunication, for the p2p nature of Bitcoin makes it available to all the aforementioned services. When viewing Bitcoin as a currency unit, feel free to compare it to other currencies. We are all familiar with euros, dollars, yen, gold and silver ounces. Just add Bitcoin to that list of potential currencies for you to use. Unlike the aforementioned paper currencies, Bitcoin has some unique properties, such as, for one, it is a raging middle finger to everybody trying to tell you how to be. But, keep in mind that, in life, there’s no certainty.
Some important developments have taken place in recent months regarding this revolutionary new option.
For instance, WordPress, the modern equivalent of the Gutenberg press, has announced that it will accept Bitcoin for upgrades. Now, without the use of PayPal or credit cards, users of WordPress, which has lit the philosophical and journalism movements on fire with its ease of use for website administration and blogging. Is, essentially, the dominant financial system is at risk of losing the Internet? Now, the WordPress sphere denominates value in BTC, and not only fiat.
WordPress uses BitPay.com for exchanges, rates and pricing. Bitcoin cannot be used for each WordPress product, however according to the WordPress announcement, all purchases will feature a BTC payment option by February. WordPress Press Release:
At WordPress.com, our mission is making publishing democratic — accessible and easy for anyone, anywhere. And while anyone can start a free blog here, not everyone can access upgrades (like going ad-free or enabling custom design) because of limits on traditional payment networks.
Today, that changes: you can now buy WordPress.com upgrades with bitcoins.
PayPal alone blocks access from over 60 countries, and many credit card companies have similar restrictions. Some are blocked for political reasons, some because of higher fraud rates, and some for other financial reasons. Whatever the reason, we don’t think an individual blogger from Haiti, Ethiopia, or Kenya should have diminished access to the blogosphere because of payment issues they can’t control. Our goal is to enable people, not block them.
Bitcoin is a digital currency that enables instant payments over the internet. Unlike credit cards and PayPal, Bitcoin has no central authority and no way to lock entire countries out of the network. Merchants who accept Bitcoin payments can do business with anyone.
Mega, the brainchild of Kim Dotcom, has also announced the use BTC.Kim Dotcom announced via Twitter today that his new website Mega would be accepting Bitcoin through the payment system bitvoucher.co, where one can see Mega services offered in Bitcoin with relatively (for BTC) high exchange rates. Here are three monthly options and three yearly options (no refund or exchange). Rumors abound that Kim Dotcom has been buying quite a bit of Bitcoin, thus explaining in part the recent runout. Due to its pseudonymous nature, this is not confirmed, but Dotcom is talking large, saying he wants Mega to go public in 18 months. Dotcom’s tweet of the change over at Mega came from his Twitter account, like so much…
Mega Pro I: 500GB of data storage and 1TB of bandwidth for 0.5184 Bitcoin per month or 5.1888 Bitcoin per year.
Mega Pro II: 2TB of data storage and 4TB bandwidth for 1.0373 Bitcoin per month or 10.3781 Bitcoin per year.
Mega Pro III: 4TB of data storage and 8TB bandwidth per month for 1.5563 Bitcoin per month or 15.5674 Bitcoin per year.
And Reddit will now accept BTC for its gold program:
Reddit has announced the same day as Mega that it will now accept bitcoins, just as has WordPress. The site has already used PayPal and Google Wallet for its premium “Gold” service, which allows users a range of editing tools and an option to turn of advertisements. The Gold service costs US $3.99 a month or $29.99 a year. Accepting bitcoin will enable the site to take payments from anywhere in the world, according to Reddit’s blog. Heretofore, Reddit has only accepted credit card payments, but only from the US and Canada. Its Bitcoin processor will be Coinbase, based in Beaverton, Oregon.
Here is the Reddit blog post:
Starting today we’ll be accepting bitcoin and credit cards for purchasing reddit gold, in addition to the existing options of PayPal and Google Wallet. We’ve gotten some requests for additional payment methods so hopefully this brings us closer to reaching everyone who wants to buy gold.
Buy your loved ones reddit gold for Valentine’s Day–it’s a gift sure to warm their hearts.
NOTE: In a week or so I hope to open up credit card payments to all countries.