@MichMae99
more from that month
Development of Bitcoin Money supposedly makes the world go round. It doesn’t; that’s physics; but it is the lifeblood of business and the system that controls it, governments, banks, brokers and the other middlemen have made and lost fortunes with it and with that control comes power. Cryptocurrencies might be something that you have heard of, but like most people you are probably unaware how this new form of money is aiming to revolutionise the concept of money.
Photo source: https://www.google.com/search?q=bitcoin&client=ms-android-huawei-rev1&prmd=inv&sxsrf=ALeKk02fFBRjA-MlPCCqBTOlMGK5YxBPUA:1602288101631&source=lnms&tbm=isch&sa=X&ved=2ahUKEwiwjoCp3KjsAhUJx4sBHQhvB8kQ_AUoAXoECBsQAQ#imgrc=XI_Z8Up1UnGceM Bitcoin is probably the best known of these new cryptocurrencies. They are beginning to offer a genuine alternative to regular currencies, allowing people without access to credit and banks a way into global finance. This new money is a peer-to-peer type verified by technologies such as the blockchain and encryption allowing the bypassing of regular money channels. It is not subject to regular laws either, it was extensively used on the Silk Road website for illegal transactions and has gained some notoriety, however it is democratic and anyone can mine the coins to spend how they choose. It is interesting to know about a new form of cash and whilst the authors do their best to explain it in simple and straightforward terms, it is at time very technical and complex. Especially if you have an interest in technology or finance; but be prepared to be baffled at times. Perhaps the best general introduction to bitcoin there is at the moment. It looks at salient aspects of the financial system along with the social and business aspects of the bitcoin economy. There is a remarkably diverse set of interests involved in bitcoin and other cryptocurrencies. This book does a great job of running through the formative ideas that have driven the interest and development of Bitcoin.
Photo source: https://www.google.com/search?q=bitcoin&client=ms-android-huawei-rev1&prmd=inv&sxsrf=ALeKk02fFBRjA-MlPCCqBTOlMGK5YxBPUA:1602288101631&source=lnms&tbm=isch&sa=X&ved=2ahUKEwiwjoCp3KjsAhUJx4sBHQhvB8kQ_AUoAXoECBsQAQ#imgrc=XI_Z8Up1UnGceM&imgdii=lutPqH40-oxc-M It starts with a discussion of money and the shared belief that is required to give a currency value. Then describes the bootstrapping of the bitcoin network, with Satoshi Nakamoto publishing a white-paper and releasing the program required to activate the network. While the technical issues were being ironed out there was also a social development of a community to support the currency, building the trust demanded by the nature of the domain. The Bitcoin Faucet was developed to give away bitcoins for free. The first purchase of a pizza for bitcoin was an important development getting the ball rolling for a new economy trading real tangible things.
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