The early history of Bitcoin is often compared to the early days of the Internet. Although some say the killer applications for the peer-to-peer digital cash system have yet to arrive, many people understand the potential of this open system for online value transfer. The Internet completely revolutionized how information travels around the world, and Bitcoin could have the same impact on money, payments and many other aspects of finance.
One of the key innovations of the Internet was that it enabled permissionless publication of information. While a handful of media companies held tight control over information and news in the past, anyone with a Facebook or Twitter account can now instantly turn into a reporter on the scene of an interesting event.
Bitcoin offers a similar transition to a more decentralized version of online finance. Instead of getting permission from PayPal, Visa or MasterCard to accept online payments, anyone can instantly sell their goods and services for Bitcoin; it only takes a Bitcoin wallet to get started. Although online drug markets have existed in the past, these sorts of uncensored marketplaces become more practical in a world where Bitcoin exists. This is not to say these markets are morally right