Interesting perspective on the purpose of Bitcoin (and the other approximately 1,565 cryptocurrencies out there).

For many people the purpose of cryptocurrencies, like Bitcoin (BTC), has always been a mystery.

There is no such thing as a Bitcoin “coin”. It is shown as a coin because that’s a useful analogy. But it’s an encryption key, one of roughly 21 million answers to an intricate computer puzzle, that can only exist on a computer supporting the currency’s blockchain.

It was once assumed you could run away from the law with it, but that’s no longer true, as law enforcement has learned how to break the currency’s supposed anonymity. The best use of Bitcoin is fleeing a failing economy.