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Morphis Blog

Bitcoin: The End Of ATM Cash Management As We Know It. Right?

bitcoin1Bitcoin, also known as cryptocurrency, is digital cash.

If you own Bitcoin, you don't have an online account like Internet banking. You have a wallet. When you give real money to a friend on the street, you simply pull a bill out of your wallet and hand it to him. It's the same with Bitcoin. Your computer or your smart phone is your wallet. The Internet is the street where you meet your friend to give or receive money. You don't need a central bank or company like PayPal to serve as a mediary. It's peer-to-peer. It's untraceable. Borders or governments can't touch it or regulate it.

The real genius of Bitcoin is the way its program delegates its operation to individual users. There is no centralized computer on some corporate campus that manages it. Its ledger records transactions and mints new Bitcoin from mining machines owned by users scattered across the globe. Anybody can buy the materials to become a Bitcoin miner. When you do, your machine becomes one of many decentralized nodes that help keep the books.

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If you have to explain a joke...

David Letterman once (famously) said, "If you have to explain a joke it's not funny." Ergo the "War On Plain Socks" wasn't funny. Never mind that I thought it was funny. That only proves I'm a cash nerd. Brendan said he liked it. I think he's a gracious liar.

Frankly this so called "War On Cash" really isn't funny. Wars are never funny. Truth be told, this is only a war because Mastercard declared it to be so.

Everybody knows MasterCard has no altruistic tendencies, only a desire to increase transaction value market share. They're working for the vig - duly noted. But a "War On Cash?" Who is the enemy here? Cash or people?

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The War On Plain-Socks...

Is it really possible to eliminate plain-socks around the world? Or is it just a Utopian dream?

The Chinese invented plain-socks over 1,000 years ago, and across all the years since then, there have always been plain-socks. Many countries make their own. Some even join together and make them for a group. And for as long as socks have been around, they have always been plain

But now there are those who say, "Plain-Socks must go!" They have declared war on plain-socks!

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