I’ve spent some time today reading/researching about a topic that never called my attention until now... bitcoin.
And it is funny I didn’t dig on the subject as this blog lately has been filled with economics topics among other things. Someone pointed to me that my blog has been showing how my mind has evolved...
Nevertheless, (I’m not going to argue about me evolving because I haven’t) I wanted to share some ideas about this bitcoin thing.
Currently we are living some kind of “gold rush” as the bitcoins prices are climbing... as any other currency, it has it’s ups and down; but the interesting thing is what actually bitcoin is.
Bitcoin is a “virtual currency”.
Somewhere in 2009, a hacker with a Japanese name had the idea of a decentralized currency. Ironic, since the financial crisis and all. Anyways, instead of a central bank, bitcoins are issued by anyone and everyone with a personal computer that is willing to. It is mined by solving cryptographic problems related with the transactions that are broadcast between the users; enforcing chronological order, protecting the neutrality of the network and limiting the amount of bitcoins available.