A recent Vox article reads, “Bitcoin was supposed to change the world. What happened?” Those are some amusing words to use. “What happened?” They insinuate that bitcoin hasn’t changed the world, and that everything it set out to do hasn’t been accomplished.
Titles like these make us realize just how misunderstood bitcoin really is. Despite the world its developed over the last eight years, it’s still rendered a failure by the majority of observers.
Let’s take a look at a few pointers. Bitcoin has given people all over the world an entirely new financial walkway to tread. Companies like Uber, Overstock and others now allow bitcoin payments to satisfy the costs of goods and services. Anyone short on cash or unable to attain decent credit now has an entirely new (and simple) way of paying for what they need without the hassles of background checks, credit checks, and perfect histories. How is that not changing the world?
One of the things the article mentions is that bitcoin has not rendered fiat currencies or traditional banking institutions obsolete. To an extent, that’s true. Fiat currency is still being used today, and not everyone tossed their checking accounts in the name of