As a fervent bitcoin enthusiast, I frequently come across the following objection: In contrast to physical, analog things, bitcoin and similar crypto assets are completely virtual and digital. As such, they are neither tangible nor graspable and would thus lack any real basis of value.
Because of their digital nature, many people still object to bitcoin, refuse to take it seriously or consider it altogether too scary. Some even lump the crypto asset in with other eerie and unsavory developments in tech and the ongoing digital transformation.
Be Not Afraid of the Digital World
Among greatest digital threats seems to be the phenomenon of “deepfake” media. This is a term that has been in common use since 2017 for the technology used to create deceptively authentic-looking images and videos. Many politicians, actors and other celebrities have already fallen victim to this practice. Deepfake videos put words into their mouths that they never said or make them perform actions they never did. What is real and what is not?
Some technophobes fear that because the capabilities of the digital world are increasingly blurring our notions of reality and what is artifice, political as well as societal life could become ever more confused and agitated. Democracy hinging on the fact that civil discourse and public debate happen among educated and enlightened citizens is very much in danger because the “fake” will become indistinguishable from the truth.
Within the reactionary mistrust of all things digital, bitcoin is getting its share of blowback as well. If this sort of mistrust resonates with you, I am here to tell you — some of these hazards associated with an increasingly digital world are certainly true. But Bitcoin is your ally, not your foe in this.
When looking at bitcoin, the juxtaposition of analog and digital might
