Bitcoin: decentralized, peer2peer, digital, and the global currency of the future. It’s all anyone is talking about these days, but is it all just talk? The fortunes of the world don’t just swap out over night, so let’s just slow down here for a second. What exactly is a bitcoin?
The bitcoin is a non-physical currency with no central point of failure that were released slowly over time by computer miners. Currently there are 12.25 million bitcoins floating around. It’s open source so anyone can use software and there is no need for banks or accounts and no inflation. Bitcoin is enabled from the Internet and as access grows around the world so will bitcoin as a self-fueling machine.
This wouldn’t be the first time we were taken over by an economy shift though. Hundreds of years ago in Amsterdam the whole economy defected over to the buying and selling of the tulip. Some of the flowers’ prices ran so high that you could buy a luxury home for the same amount of money as a single bulb. For a hundred years this brought business and commerce to Amsterdam and, to this day, holds 80% of the share in tulip bulbs worldwide.
So be open-minded about the bitcoin. As more information circulates around we could come to realize that it’s really the way of the future. Take a look at this infographic for more and see for yourself. Don’t forget to like, share, and tell us what you think in the comments.