On January 3rd, 2009 the first bitcoin block was mined. 11 Years and 2 months Ago. Since then, the network has maintained 100% uptime. This makes bitcoin and other crypto the most stable computer system on earth. Not only for currency but for the transfer of anything that is digital that needs to be separated in units. The first message posted when bitcoin was mined ironically was that the banks were on the verge of being bailed out. Last week, the federal reserves intra-bank transfer system went down. https://www.cnbc.com/2021/02/24/the-feds-system-that-allows-banks-to-send-money-back-and-forth-is-down.html. Yet, bitcoin and other crypto currencies have never gone down(as a system, not price). This is huge. So what if a transaction takes a couple minutes? Knowing the system will never go down should bring people more peace knowing that they are using the most reliable currency system ever created(as long as you use it right). We have all gotten way too caught up in worrying about transfer speed or transfer fees. The market will sort those things out. What’s important to realize is we now all have the most reliable transfer system man has ever created, and we all have access to it. The federal reserve should be jealous.
Edit: I did realize after some comments there was one instance where a rewind happened. It was before I bought in though. Minus the one event, it would be 100% uptime.
No comments:
Post a Comment