Help me to Understand Bitcoin more...

in #bitcoin8 years ago

I'm imagining a technological advancement so powerful that it transforms the very basic pillars of our Society technology, which fundamentally influences the way the economy government systems in businesses function and could change a conceptual understanding of trade ownership and trust. This technology already exists it's called crypto currency. People often think of Bitcoin as only virtual money or a transaction system but if you look closer you'll see that the monetary aspect is just the tip of the iceberg. That's because bitcoin is a groundbreaking in it technology for which money is really one of the possible applications. Money exists to protect trade and  through the centuries has become incredibly complex, everyone trades with everyone worldwide. Traders recorded in book-keeping and this information is often isolated and closed to the public. For this reason we use third parties in middle man we trust to facilitate and  improve our transactions  "think of government, banks or  accountants"  
Bitcoin bitcoin software enables a network of computers to maintain a collective book-keeping for you.
 

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