The HiFi Bitcoin Letters
The HiFi Bitcoin Letters
Letter #109: The World Doesn’t Need More Blockchains
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Letter #109: The World Doesn’t Need More Blockchains

Read now to learn how blockchain is only one small piece of the innovation behind Bitcoin.

Dear Readers,

When the idea for Bitcoin was made public on an obscure cryptography forum in 2008, a revolution in self-sovereign money was launched. And the subsequent go-live of the Bitcoin blockchain in early 2009 sent that revolution into overdrive. The world was reeling from the effects of the Great Recession, which was the culmination of decades’ worth of financial interference on the part of governments and banks. Humanity needed a decentralized monetary medium that could ensure financial self-sovereignty, and Bitcoin overwhelmingly fit the bill.

Bitcoin’s success has also unfortunately led to quite a number of copycat projects, as well as arguably questionable uses of its underlying technology. By this, I don’t mean to imply that everything in “Crypto” and “Blockchain” has no meaning or value. There are obviously tens of thousands of people around the globe, including many of you perhaps, who find value in one project or another. But neither do I believe that every bit of humanity’s existence needs to live on a blockchain or be decentralized.

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