Welcome to my opinion editorial and a rant on how Facebook, Instagram, Whatsapp and even Cloudfare [the other day] went down and over a billion people faced inconvenience simultaneously due to the centralized authorities managing these servers. But this actually made me question the kind of applications we as consumers choose to use. Fortunately enough, I even observed how in the past 10 years Bitcoin [BTC] server never went down and how this might be one of the strongest signals of the universe screaming out loud to tell you, “This is it, my child. Wake up, go and manage your own wealth and data”.
On 3rd July, Online monitoring service DownDetector reported on popular social media channels Facebook, WhatsApp, and Instagram were down. The outage began around 12:00 GMT and affected the services of all the three channels.
Facebook even claimed that a “routine maintenance operation” had by mistake caused a bug that interrupted the service making it hard for users to upload, send or view any media.
Over 3 million advertisers use Facebook as their medium to run ads for their clients. Similarly, Instagram also has a large userbase that runs its business through Insta. A couple of influencers even have outreach programs on these channels on a daily basis. Not just this, even, WhatsApp has over 300 million users who use WhatsApp for communication purposes every day for various reasons.
Individuals and Institutions, many of us were infuriated with the long down-time, although I’m sure it did give us a good timeline to socialize in real life. But hey, do you ever think about banks? When their servers go down the same way? When you enter into an ATM and the machine says “Sorry, your bank server is down. Please try again in sometime.”
What if there’s an emergency? What if you need your money and that particular time and you can’t? Cause your centralized bank has a team of 4 IT engineers and they are all sleeping while you’re standing in the rain?
What you can do is avoid a day when that will happen by placing your trust in Bitcoin today.
Bitcoin runs on a peer-to-peer [P2P] network so if the Bitcoin network goes down it means a huge chunk of the internet goes down [highly impossible]. It means over millions of people spread across the globe that run the bitcoin network have to switch their mining consoles and stop being connected to the internet. This is the only time there’s a possibility the server can go down.
On the other hand, the Bitcoin client stores all the data from the Bitcoin network which indicates that if it goes offline [it never can], it will still have all the data stored in the hard drive and will try to reconnect as soon as it gets internet.
Additionally, the decentralization and the security keeps your Bitcoin safe and running all the time. You manage your money, and you owe no explanation to any centralized authority for your management. Its simple, your money stays yours.
Now talk about data, all these centralized applications that feed on your data, sell your data to other companies that judge you on your lifestyle and choices without your consent and advertise things to you, to sell to you, the things you didn’t even want or need at the first place.
Bitcoin and its technology blockchain has brought in a disruptive revolution of payment mechanisms and data sharing techniques. There are dApps [decentralized applications] that now do the same work as Facebook, Instagram, and Whatsapp without reading your personal message or without storing your data without your consent.
Right from messaging systems to gaming, it’s all switching to a decentralized model that respects the privacy of its users. Here, it’s your time to decide, if you want to opt for the centralized world where you don’t manage your money and data or do you want to switch to a decentralized space where everything that belongs to you is managed and owned by only you.