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.