Bitcoin digital gold technology in Utopia

Bitcoin digital gold technology in Utopia

A long time, there is a small faction of the existing control system is not satisfied with the money, they find a safe and effective way to private property and savings to pay.

The resulting digital currency Bitcoin. In late 2000s, the network get in by every opening credit bankruptcy of the central bank and private financial institutions contributed to the emergence of bitcoin.

Nathaniel Popper is the New York Times reporter, he knew the interaction of capital and technology, in his new book by Don Quixote style fantasies and utilitarian story illustrates the rise of bitcoin.

Privacy advocates led since 1990 “network era of new money” pursuit, they produce the electronic transaction marks is not assured, skeptical about the bank and government control and manufacturing flow of money.

However, until 2008, what did not make a big change, until the end of 2008, one claiming to be called Satoshi Nakamoto so far unidentified person issued a declaration, release a software code, has created an ingenious system, the system through the use of open network “mining” bitcoin, safe and anonymous to verify ownership, the transfer of the money.

To complete this achievement by a large number of free programmers, technology Utopia and dissatisfaction profiteering people.


“What is bitcoin the establishment of the environment,” the pope said, “the financial crisis.” The financial crisis triggered a public of improper operation, the Federal Reserve Bank issued a lot of notes and “legal tender” obvious loopholes in the system of anger and fear.

The book Puboer bitcoin compared to gold, since it has over the past few centuries people can be regarded as the characteristics of gold: not easy to divide, the globally recognized source is limited, portable, infinitely divisible, mining difficult, not linked with the government or agency.

The Bitcoin management system to encourage individuals to rely on the ability to create new money and support computer ownership and trading platform. Through the game to solve complex mathematical problems in computer “mining” to bitcoin. The new coins in a predetermined increment “issued”, while the supply is around 2040 up to 21 million.

Since its launch, bitcoin has also suffered a wave of excitement and adversity. In the law enforcement departments will be closed before the sale of drugs and other contraband network electronic black Silk Road was a promoter of early growth of bitcoin. The largest bitcoin exchange market Mt. Gox, collapsed after a series of attacks to steal technology and fault.

When the Chinese e-commerce giant Baidu began to accept bitcoin payments, bitcoin prices soared in 2013, from a few dollars rose to more than $1200. Since the foundation of prices have returned to $200 per bit.

Even in the Fed’s cooling, bitcoin prices soaring hate speech reversed in the case of large capital entrepreneurs and investment institutions also have the bitcoin ecosystem.

This week, the New York Stock Exchange announced bitcoin benchmark price index. The former finance minister Lawrence Summers to participate in a 21 Inc bitcoin startups. Goldman Sachs (GS) investment bitcoin related business, with VC Andreessen Horowitz heavyweight.

“The charm of bitcoin is that it has successfully adapt to the times,” Popper said, “like a blank slate, people can be interested in the writing.”

A “high-tech utopia”

Some people think that the main value of bitcoin is Alipay as a low-cost version of global online payment, or in a more seamless way to complete the huge transfer payment between banks.

Others believe that it is the supreme wealth shop, enjoy the limited supply and popularization. Other people think the method of open computer based on resources and smart, they think can be used widely.

Advocates of bitcoin most strongly reflected in the Silicon Valley that “science and technology Utopia”, outstanding entrepreneurs and developers believe they are the better for most software to complete the transformation of society.

Money saving and transfer the re construction of “after many intermediary”, Popper pointed out. Silicon Valley lies in the excitement, perhaps this is the Silicon Valley Wall Street line snatch the basic business opportunities.

Of course, the vast majority of people seem to be on the existing dollar based payment facilities functioning money system is quite satisfactory.

Many financial and technological innovation, such as apple and Google wallet to pay – in fact is based on the bank and the process of network card.

It seems the system bitcoin center seems to be a solution. The faithful believers and opportunists who want to convince the world that we have a more perfect than today’s currency money mode.

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