Posts tagged with 'Bitcoin'
“Bitcoin is a virtual currency.” How many articles have you read recently containing this phrase, or something similar?
I find this quite annoying, as it’s a bit like saying “a computer is a word processor”.
It’s true… but it’s not a comprehensive definition.
Money is changing, with a range of innovative new technologies looking to disrupt the established financial structures.
Chief among these are the crypto-currencies such as Bitcoin.
But what are they, where did they come from, and are they really a threat to the traditional monetary system?
I was raised in the UK, so it’s perhaps not surprising that I used to feel that any currency without a picture of the Queen on it was not real money.
Now having lived in the Eurozone and America, I have liberalised, but I seriously question whether our customers need a currency like Bitcoin.
Bitcoin, the decentralized and anonymous (or almost-anonymous) digital currency, has been a top headline grabber in 2012.
And for good reason: Bitcoin has not only gained more adoption than skeptics could have imagined possible, but it has created a fascinating discussion around how currency will evolve in the 21st century.