Dec 21, 2024
ENCINITAS, Calif. (FOX 5/KUSI) -- "The group started out as a necessity to deeply talk about Bitcoin with other people who actually wanted to talk about Bitcoin," said Andrew, the founder of the North County meetup group "Let's Talk Bitcoin." Bitcoin has emerged as one of the most talked-about topics in the world of finance, technology and investment. Launched in 2009, it was the first cryptocurrency ever created, sparking a digital revolution that has given rise to thousands of similar currencies. From his perspective, Andrew explained that when someone discovers Bitcoin, they tend to desperately want to talk about it with the people in their lives -- from their closest relatives to their best friends. Carlsbad man faces ‘Gun Violence Emergency Protective Order’: What this means "The problem is, they haven’t yet realized what Bitcoin is and they simply can’t be told what it is," Andrew continued. "This leaves you in a manic state where you can see something world changing but you can’t really talk to other people about it." So, what exactly is Bitcoin and how does it work? At its core, Bitcoin is a decentralized digital currency that operates without a central authority, such as a government or bank, to oversee transactions. Instead of relying on traditional banking systems, Bitcoin uses a peer-to-peer network to process transactions directly between users. This eliminates the need for intermediaries, which is one of the key features that sets Bitcoin apart from traditional currencies. Bitcoin operates using blockchain technology, which is a secure and transparent digital ledger that records every Bitcoin transaction across a network of computers. This system ensures that each Bitcoin transaction is legitimate and cannot be altered or tampered with. The blockchain acts as a public record that anyone can access, promoting transparency and security. Concern arises over Lake Hodges water level: this is why The Bitcoin network has a fixed supply limit of 21 million coins, which makes it scarce by design. This limited supply has contributed to its value over time, as demand for Bitcoin has surged, particularly among investors and those seeking an alternative to traditional forms of money. "We finally have a fair and free monetary system that anyone can use. No more bank bailouts and endless debt ceiling, money printing from the politicians or closed bank accounts for wrongthink (beliefs that go against the mainstream)," said Noah, a co-host for the monthly meetups. "For the first time in history, humanity has a way of saving their time and energy output in a form that can't be stolen or debased." The "Let's Talk Bitcoin" group meets on the third Wednesday of every month, typically in Encinitas, to create a space where the local cryptocurrency community can gather to better understand Bitcoin. The roundtable-style discussion starts with a general group chat, then attendees break off into smaller groups based on experience and interests. Anyone can participate and all levels are welcome. "We’ve always focused on education and sharing the perspectives of Bitcoin’s impact and potential impact on the world from a wide range of participants with diverse occupational backgrounds," said Andrew. "The computer science guy sees effects that the philosopher doesn’t see and vice versa. The product developer sees things that the real estate guy doesn’t see. All of this knowledge helps paint a broad picture of Bitcoin’s impact on everything." Exhibit showcasing North County artists debuts in Carlsbad Michael, an avid member of the group, pointed to what he believes is the "comprehensive positive impact" Bitcoin can have on individuals and the world. He said, "Bitcoin is an elegant solution to a complex problem involving economics, politics and culture." Michael believes the cryptocurrency "opens your eyes and leads you out of the fiat cave, so you are freed to live a life that is more prosperous, prosocial, healthy and sustainable." The future of Bitcoin remains uncertain, but it continues to have a significant influence on the world of digital finance. Many believe that Bitcoin is just the beginning of a broader shift toward decentralized financial systems, with blockchain technology opening up new possibilities for everything from banking to voting to supply chain management. When Andrew was asked what excites him the most about Bitcoin, he closed the interview with this response, "If you really want to know what is exciting about Bitcoin there isn’t enough room in this article. Come to our meetup to find out. Or better yet, the next time someone in your life is desperately trying to tell you about Bitcoin, you should choose to listen. Fix the money, fix the world!" For those interested in attending a "Let's Talk Bitcoin" meetup in North County, dates and times can be found here. For now, Bitcoin remains a revolutionary and often controversial part of the digital currency landscape, with the potential to reshape how we think about money and finance. Whether it will achieve widespread adoption or remain a niche investment asset will depend on how it evolves in the coming years. "Bitcoin will profoundly change you, if you let it," said Michael. Bitcoin is not without its risks. It’s important for anyone considering investing in it to do their research, understand the risks involved, and be prepared for the volatility that characterizes the cryptocurrency market.
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