People are getting frustrated with the state of the world. These days, with our crumbling global economies, our depleting natural resources and the increasing popularity of Justin Bieber, there doesn’t seem to be much optimism in governments.
Enter bitcoins. The revolutionary idea was introduced in 2008 by Satoshi Nakamoto. Bitcoins are an online currency; an electronic, open source, peer-to-peer currency that has no central banking server, these coins are secured, non-taxable, and untraceable.
Enter bitcoins. The revolutionary idea was introduced in 2008 by Satoshi Nakamoto. Bitcoins are an online currency; an electronic, open source, peer-to-peer currency that has no central banking server, these coins are secured, non-taxable, and untraceable.
Here’s why they’re great:
· Bitcoins can be sent directly through the internet, without going through any medium (like a bank).
· There is a finite number of bitcoins in existence. This means that no one can artificially inflate the money supply and lower value.
· When bitcoins are transferred, an electronic signature is added, guaranteeing authenticity.
· All transaction records are published, but ownership can remain anonymous.
· Bitcoins can be traded and exchanged for US dollars, Euros, etc.
Users can buy video games, gifts, books, and many other physical items with their bitcoins. Online “wallets” are used to keep a record of a user’s available bitcoin balance and transaction history. Although there have been a few setbacks, bitcoin is taking steps to ensure security.
· Bitcoins can be sent directly through the internet, without going through any medium (like a bank).
· There is a finite number of bitcoins in existence. This means that no one can artificially inflate the money supply and lower value.
· When bitcoins are transferred, an electronic signature is added, guaranteeing authenticity.
· All transaction records are published, but ownership can remain anonymous.
· Bitcoins can be traded and exchanged for US dollars, Euros, etc.
Users can buy video games, gifts, books, and many other physical items with their bitcoins. Online “wallets” are used to keep a record of a user’s available bitcoin balance and transaction history. Although there have been a few setbacks, bitcoin is taking steps to ensure security.
The internet has already changed the way we connect socially; now there’s a good chance it will change the way we connect financially.
Do you think the Bitcoin movement is the new social media frontier?
Do you think the Bitcoin movement is the new social media frontier?
Very well said that with our crumbling global economies, our depleting natural resources and the increasing popularity of Justin Bieber, there doesn’t seem to be much optimism in governments.And major changes are indeed by keeping developing technology in mind.
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