Written by Magnetic Magazine — Bitcoin is the product of the computer in the same way the electronic dance music is.
When you take the EDM culture and strip it back to its roots you have one main element: a computer. Beyond the creative inspiration and the dynamic beats seamlessly shifting from one tempo to another, the hub of the operation is the computer chip.
Unlike other musical genres, electronic dance music is defined by its affinity to technology. Indeed, the process of making something beautiful, something entertaining and something useful from a computer processor has always been at the heart of electronic dance music and that's now become the blueprint for a number of other industries.
THE POWER OF COMPUTERS: FROM EDM TO BITCOIN
Indeed, today, when you scan the virtual world you'll see a number of innovations and one of the most intriguing is Bitcoin. Known as a cryptocurrency, Bitcoin is basically an electronic form of money that's created by the Internet (computers) and exists solely on the Internet.
Manufactured through a process known as mining (instead of being physically minted), Bitcoin doesn't have a physical form and is simply a combination of unique codes that have been created by computers solving mathematical equations.
Whichever way you slice it, Bitcoin is the product of the computer in the same way the electronic dance music is. This common root means there's an intimate connection between the two cultures and that's something Knife Party picked up on in 2013.
Wanting to embrace new technology, much like the early pioneers of electronic music did in the seventies, Knife Party decided to give fans the chance to buy their third EP, Haunted House, using Bitcoin. The move was certainly a bold one, but it's one Knife Party's record label, Big Beat Records, believed was a sign of things to come for the music industry, moreover, the entertainment industry.
BITCOIN RESHAPING THE ENTERTAINMENT INDUSTRY
Today it seems Big Beat Records and Knife Party were right because since 2013 the popularity of Bitcoin has increased dramatically, According to the latest estimates, more than 4 million people now use Bitcoin just as much as they use their native currency. In fact, as Big Beat Records foresaw in 2013, Bitcoin would become the next big thing for the entertainment industry.
Aside from the music industry, you can now go online and use Bitcoin to engage in all manner of activities. By far the most impressive at this moment in time is the Bitcoin casino industry and pioneering sites such as VegasCasino.io.
Offering a complete online gaming platform filled with options such as blackjack, roulette, sports betting and lottery games, Bitcoin casinos such as VegasCasino.io are making just as bold a step as Big Beat Records did in 2013. Understanding that Bitcoin casino gaming is highly secure thanks to the cryptocurrency's inbuilt security protocols, VegasCasino.io is now attracting forward thinking gamers that want to embrace new technology as Knife Party did three years ago.
THE POWER OF THE COMPUTER CONTINUES TO GROW
The world as we know it is changing and that means the world of entertainment is changing. The moves made by players in the EDM world (Monstercat also accepts bitcoin) and iGaming arena are just the tip of the iceberg. With so much of our lives now taking place online, the need for a currency that's purpose-built for the Internet is vital.
Bitcoin is not only safe and efficient, but it's universal and that means everyone anywhere can use it without having to deal with currency conversion charges and all that jazz. While you may have never made the link between EDM and Bitcoin before, they certainly have a myriad of connections and they'll continue to grow as more people begin to appreciate the beauty computer generated products.
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