I do not know a whole lot about the Bitcoin but I am certain it will be an integral part of everyone’s life in a near future, and I am very curious about it. This issue of the Wall Street Journal was published on the 10th of September. This is happening now folks!
How will a crypto currency change the way we do B2B, B2C and of course C2C?
Well, I am not the guy to tell you, I am not an expert on this subject, just a very curioius guy that understands the potential of Bitcoin. I advice you to surf around for more info if you want the nitty-gritty details. I just know this is a very exciting development. Myself, being a globonaut, would really enjoy the simple life with just one currency, and as living in Brasil I would also very much like avoid paying the transaction taxes the government and the banks are (read: stealing from) charging us consumers.
Did you for example know that the Bitcoin actually is a computer protocol, like for example the Internet protocols. There is nobody that owns the bitcoin, gaining anything. It’s just a secure way to transport a value between two parties that does not have to know each other, talk, have contracts etc. The Bitcoin technology solves the problem of trust in a potentially unsafe communication system, for the first time ever it allows for a computer network to have consensus.
The Bitcoin was borned in October 2008, when Satoshi Nakamoto published a white paper with the ideas behind this crypto currency. In January 2009 the same Satoshi released the first implementation of the software.
Until now, the bitcoin has not had any real success, well besides a real boost back in 2011-2012 when drug traffickers and their customers used this virtual, uncontrolled “currency” on the Silk Road website to trade with drugs. You could say that bitcoin got a bad start and are still somewhat struggling from a bad reputation based on this, but the FBI shut down the Silk Road in 2013 and now this crypto currency is beginning to reach the “clean” markets.
This is of course scaring the banks and it will also inevitably lead to a lot of banks and economical system to collapse since they cannot any longer feast on our blood for historic reasons.
I mean, who visits the bank office today? Everything is done online using Internet, the bank fees for doing this is totally ridiculous. However, that is another story. Just, remember the name bitcoin, in a near future we will see the bitcoin really entering the global marketplace, first on a small scale but very soon all banks, credit cards and the other leaches will have real problems.
People, keep your eyes open, Bitcoin is already here, and as always, stay smart!