Rias Uddin

Bitcoin Rias Uddin

Bitcoin is called "the future of the global monetary system." The mysterious entity or person named 'Satoshi Nakamoto', on 31st October of the year 2008 gave birth to Bitcoin. Satoshi Nakamoto claims the financial crisis in 2008 proved the failure of the modern banking system and reliance on banks. The author argues that money has to be controlled by financial institutions. An individual cannot issue own currency. The federal reserve Act of 1913 created the federal reserve bank to cut the unreliability and instability of individual banks issued notes. The book tries to expose the reality of Bitcoin. It is a global threat. The paper proves Bitcoin admits the begin of digital colonization and the end of social bonding. Bitcoin entails no legal or arbitrary mediation. It is a proof of the end of trust in the society. Has digital colonization been started?