A Decentralized Currency: The Bitcoin

A lot of buzz has started up about this new currency, but what exactly does it mean for us & why should we care about it? We have the USD, the Euro and other major currencies. Why use the Bitcoin? Its strengths lie in its de-centralized & peer managed architecture. If you’re not familiar with it, watch this quick video to bring you (mostly) up to speed.

 

 

This system is inherently unmanageable by any one party, whether that is a government, interest group or some other interested party. The “hive mind” is the governing body for the value of the coin. Every transaction is visible by the entire hive, but every transaction is completely anonymous. It’s no more possible to track it than if every purchase or sale you’ve ever made was done with cash, face to face. I’d love to hear your thoughts on the future of the Bitcoin. If you’d like to get involved you can receive (for free!) your very first small amount of currency by visiting: http://freebitcoins.appspot.com/ .

 

 

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The future of the Bitcoin depends on a strong community that believes in it. Any currency is given its worth by the support of the people behind it. Cheers!

If you’d like, feel free to donate! Send coins to 14gy6WY5gHMSyCcdaoiqJZ9CmFmsFpDBe9
 

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