Bitcoin has erupted onto the scene with wildly disruptive allure as an alternative to fiat currency and bank debt. Yet it is also accompanied by wildly disruptive speculative excesses, considerable confusion about anonymity and value, and vast amounts of computational resources consumed by bitcoin mining operations around the world—160,000,000,000,000,000,000 (160 quintillion) calculations per second, currently consuming more than 100 terawatts of energy annually, which would place it roughly 30th (Netherlands-ish) globally if it were a country.
Crowdfunding’s democratizing promise is far more straightforward. Billions of dollars raised from millions of individuals for a host of projects, products, businesses and campaigns.
Which lands us, with not quite as much precision as a drone delivering organic pizza to a doorstep, on the question of how Beetcoin fits into the scheme of things.
Rather than serving as a platform for hosting individual transactions, Beetcoin builds a funding system, with emphasis on the word system. We can’t think of anything more radically constructive at this point in time than generating a grassroots flow of capital from across the land and putting it to work via local 0% loan groups.