Get $10 of Bitcoin free when you buy Bitcoin here: http://ianbalina.com/sixfigures/coinbaseWhy Bitcoin and Ethereum Matter?peer to peer photoIt has become common today to speak approvingly of blockchain but to dismiss Bitcoin and Ether. Financial magazines write about how banks and investors race to harness the power of blockchain but treat cryptocurrencies with skepticism.However, they confuse technology with valuable applications.Here’s why Bitcoin and Ether are worth your attention:Decentralized Forms of CurrencyWhat makes these two cryptocurrencies interesting is that they work in a decentralized manner. Simply put, there’s no central entity (like banks or governments) that prints money. Instead, the money is being minted by the people (miners).Because Bitcoin is globally distributed across thousands of nodes with no single point of failure, the system can’t be shut down.Think about how BitTorrent works to understand the technology behind Bitcoin better. BitTorrent was designed to decentralize information so that data can be sent more quickly and efficiently. The protocol breaks each data into multiple blocks and sends them to different users. The users then share these pieces of data with each other, dramatically reducing the load for the original distributor of the information.Bitcoin employs the same logic.Another great thing about Bitcoin is that it’s censorship resistant. Your Bitcoin transactions can’t be blocked, censored or altered by anyone even if they disagree with what you’re doing. Moreover, no one can prevent you from interacting with the bitcoin network.Unlike other currencies, you own Bitcoin. In other words, you can’t wake up one day only to discover that your accounts have been frozen. Bitcoin is the only electronic cash system in which your account is entirely yours.Take PayPal as an example. If the company decides, for some reason, that your account has been misused, it has the power to freeze all of the assets held in the account without consulting you.But, because no one else controls your Bitcoin account except you, the platform protects your wealth against third parties. Thus, central governments can’t take it away as it can happen with standard currencies.Here’s the perfect example to illustrate the fragility of the traditional bank system.The 2012-2013 Cypriot crisis when the government froze and seized assets in response to a bailout deal with the European Union (EU) left many questioning the safety of the banking system. The interest in Bitcoin skyrocketed as soon as Cyprus began discussing tapping deposits as part of the bailout. Investors and regular people alike quickly realized that a decentralized money system is the best way to keep their assets secure.Get $10 of Bitcoin free when you buy Bitcoin here: http://ianbalina.com/sixfigures/coinbaseWebsite: http://ianbalina.comInstagram: https://www.instagram.com/diaryofamad...Snapchat: https://www.snapchat.com/add/diaryofa...Facebook: https://www.facebook.com/ianbalina/Twitter: https://twitter.com/diaryofamademan