Why You Should Care About Bitcoin
Women and femmes need get in the Bitcoin economy as it is one of the newest and fastest growing forms of currency in the modern day. It may be too late to redefine power structures of traditional money and the economy that has been around for millennia, but this new currency might hold the key to a new and reimaged society and the distribution of power. Bitcoin, created in 2009 by an anonymous person operating under the alias Satoshi Nakamoto made it so that there was no middlemen – meaning, no banks or clearance house in dealing with currency! That meant no more transaction fees and no need to attach your identity. Although this triggers precaution, it is also more freeing than traditional economics. In fact, more businesspeople are starting to accept them. The possibilities are expanding; you can buy pizza, video games, and web hosting services with Bitcoin.
Bitcoins can be used to buy merchandise without the responsibility of attaching your identity to the transaction. So although this power can be used for malevolent motives, the work of activists, striving to create a more fair and just world can also thrive as there is less surveillance and ability to regulate and deter progress. This can do wonders for support needed for women and femme initiatives in more ways than one. International payments are now easier and cheaper to access with bitcoin. You and your money aren't tied to any country nor subject to particular jurisdictions. Women and femmes starting and operating their businesses may also find them to be favorable because there are no credit card fees and credit scores needed. Those looking to get into investment can now have a more user-friendly option as bitcoins are a new invention. With the way technology is moving, bitcoin is sure to go up in value over the years, and it is a pretty wise investment to get in the economic game early to ensure our lineage don't have nearly as much of a struggle to be self-sufficient.
If you're wondering where you can get in on the action, multiple marketplaces, 'bitcoin exchange,' allow individuals to buy and/or sell bitcoins using different currencies. These online spaces are called, Bitify, is the most massive bitcoin exchange. Transfering money is now easier, and people who are financially less secure won't be prey to loan sharks. Bitcoins offer a place to transfer and receive money using mobile apps or computers. It is much like the idea of sending money digitally (think CashApp or Paypal).
Those really looking to get in the game and amass wealth for the long-term can invest in mining. Mining is when people compete to 'mine' bitcoins by utilizing their computers to solve intricate math puzzles. My girlies who are good with numbers, this is for you! In fact, this is how bitcoins were created in the first place. As of now, a winner (miner) is rewarded with 25 bitcoins about every 10 minutes, now imagine your bitcoins converted to American dollars.
You keep your bitcoins in a 'digital wallet.' Much like your Paypal or CashApp credit. Your digital wallet exists either in the cloud or on your computer. We trust the banks with our money and believe me the banks are human run institutions in American history alone, the mismanagement of people's finances by a big bank is not out of the ordinary. There's a general $250,000 insurance for a reason. This virtual wallet acts like a virtual bank account that enables customers to send or receive bitcoins, pay for goods and services or save their money. However, unlike bank accounts, bitcoin wallets are not insured by the FDIC, so that may be a reasonable concern.
Bitcoin activity is registered in a public log, names of buyers and sellers are kept anonymous – the only 'identity' used is their wallet IDs. Do we really know what will become of bitcoins? No. Not even economist have a perfect answer, but in the case that we move to an entirely virtual world, women and femmes should be well prepared to not only participate but have a stake in the governance, regulation, taxation and overall control of an entity that will most likely be used to control them. If you're still not convinced, one bitcoin is worth 5,673.60 American dollars today girlies.