For many people, it is challenging to understand the concept of digital currencies. Although bitcoin is very popular among many investors, many people hate its idea. Bitcoin has many benefits as well as it has some downside.
It is very complex, and it requires some critical thinking to comprehend. To make it simpler, many people try to explain with the example of some metaphors like digital gold, email, eCash, etc. Here is another new name: bitcoin is like ham radio. Now lets understand what ham radio is and why it is compared with bitcoin.
What is Ham Radio?
A ham radio, also known as amateur radio, allows the users to communicate in the radio wave by voice or code. This is an ancient technology that is first operated by Guglielmo Marconi in 1897. He was the first user who communicated through ham radio by sending a code.
It is quite surprising that even today, ham radio is used in the world. Although digital communication mediums such as email, social media, and smartphones are available, there is a large number of group of people are using ham radio in some specific locations. In ham radio, you can only communicate via voice or code, which can only work within a limited range. Again, there is no privacy while using a ham radio.
Despite the fact, ham radio has a high craze among people. More than 0.7 million people are now using ham radio in the USA, and over a million ham radio operators are in Japan. More surprisingly, the number of global ham radio licenses is around 3 million.
Well, now the question is why bitcoin is related to Ham Radio? To answer this, I would like to share some perspectives given by JP Koning, a financial writer who generally writes about money, cryptocurrencies, investing, trading, etc.
Why is Bitcoin related to Ham Radio?
According to JP Koning, bitcoin is like a ham radio because people use bitcoin as a hobby. He pointed out that the people who use bitcoin only as a hobby are large in numbers. But the people who use it for an investment vehicle are tiny.
The number of investors who find Bitcoin to be a primary investment asset is very few and less than that of amateur radio users. His views on bitcoin: bitcoin cant be a mainstream investment choice, as ham radio is never a mainstream for communication purposes, its just a hobby.
If bitcoin is taken as a hobby, it can only be learned with patience. This is very similar to the ham radio; people are trying to set it up by searching various frequencies to locate a nearby repeater. It is a time-consuming operation, and it requires a lot of effort. Its the same for bitcoin if it's done with patience as a hobby, then that's logical. However, it is not appropriate to take it as a standard investment vehicle.
Some people who want to embrace Bitcoin as a mainstream currency and do not want to use conventional money are not realistic. Since no one will ever accept a ham radio as their primary means of communication by replacing smartphones, however, both bitcoin and ham broadcast have some critical roles to play in the world.
What is the Importance of Bitcoin and ham radio in the world?
The importance of ham radio can be understood in the case of a disaster. For example, if there is an earthquake in the world, the traditional way of communication would be disrupted. No cell phones, no mobile networks, no internet, and so thats the time for ham radio. We can use ham radio as a backup for communication in such a situation.
In the same way, many people invest and trade in bitcoin through Bitcoin Union to keep it as a reserve during any market crash or financial crisis. Bitcoin is also a backup for transactions. This can be used as a decentralized backup for operations during a disaster.
Conclusion With all of the above, it indicates that bitcoin is like a ham radio that can be used as a hobby. Now, please share your thoughts on this, and how do you feel about bitcoin?
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