We often talk about Bitcoin as if it is an investment or a payment protocol. But this misses a vital point. Bitcoin is not a currency, it’s a revolution – the biggest revolution in money for centuries, whether technological or social.
Some revolutions announce themselves with a bang: crowds on the streets, shouting slogans, throwing stones and burning buildings. Other revolutions happen quietly and slowly. They take years or decades, during which time they dig themselves deep into the fabric of society, changing it fundamentally.
Bitcoin is the second kind of revolution. It has no face and no location. There are just bits, bytes and anonymous users. It makes no noise, it burns nothing and it occupies no building. It’s just here, and it won’t go away. In 2009 money began a new stage of its evolution – with a revolutionary outcome.