“You, worthless maggot! Don’t eat that delicious brownie!” hisses a sinister voice from the shadows.
“You should eat that delicious brownie, you are wonderful and deserve it.” comes an angelic counter voice salivating from the sky.
Have you ever had this conversation with yourself before? …
After spending the last several years avoiding the Bitcoin buzz, I have finally seen the light. Sadly, I wrote the technology off as nerd-money with no future beyond a few enthusiasts in their mom’s basement.
But why now? Isn’t it too late to get into Bitcoin now, and isn’t the US dollar the only thing that matters? After all, I have a bank account full of the stuff right? Or maybe it’s the Yuan that matters? Euro? Yen? So why would we need a new currency anyway?
In short, because Bitcoin (or more broadly the blockchain) enables a new form of currency that exists outside the boundaries of any economy we have seen to date and is ran by vast and diverse communities eliminating the need for a single point of failure; i.e., a central authority. In other words, it completely does away with the banks and various other institutions while still providing all of the facilities they offer, and it’s sustained by anyone willing to contribute the system. …