Introduction

What is Bitcoin?

Bitcoin is so many things, and so hard to understand that many people dont really bother to try and understand what exactly it is, or how it works.    I've been professing Bitcoin to people for the past couple of months and get a variety of responses, most of which are "great, good for you, that totally makes sense."  However after saying that, people dont do anything.   

Maybe they are just fine with the way things are?  (most people I think)

Maybe they didn't really understand the concept?

Maybe they dont understand the repercussions?

Maybe they dont care?

Maybe they dont want to care?

I've also had a couple of converts, those that adopt bitcoin as part of their daily interests.

I've also had people essentially laugh in my face.(I've got a really good story to tell in a future post)

So what is Bitcoin?   Imagine if the internet and money got together and had a baby.  That babies name would be Bitcoin.

Bitcoin is a peer to peer digital currency, separate from any central bank or country.   It is the next evolution in money technology.  It is a digital version of coin, cash, checks, and debit cards, all bundled into a neat little wallet.   Wikipedia http://en.wikipedia.org/wiki/Bitcoin

Let put some thoughts out there on this digital paper to think about.

-We operate in a digital, cashless society today.  Nobody uses or has cash any more!  We use our debit cards, which digitally transfer money from one account to another, we write checks, which are digital, we use credit cards, which are digital, etc.   If we operate in a cashless society, why do I have to keep my money in a bank?   Why can't i keep my digital money on my computer where I know where it is and have immediate access to it?   (hint: then answer is not interest, we'll touch on that later)

-There is SO MUCH friction in the legacy banking system.   If you write me a check, you've just given me a job to do.  I can't loose it, I have to keep track of accounting, drive to the bank, stand in line, and give somebody behind the counter access to my money.   Then that bank has to process the check, let the other bank know that they need to send money to my account, then credit my account.   

-Why can't I walk into a bank at 5:00pm on a Friday afternoon and wire money to Japan.  Why do I even have to walk into a bank to do it?  If you tried, they would say "the fees are $125 and it will take 5-7 business days."   Are you kidding me?   I can have an email to Japan in 10 seconds for free, but I can't send digital money?

-Civilization and society have technologically progressed for thousands of years. In the last century we say huge paradigm shifts in technology.  Here are a few(think about how much they changed peoples lives.  

    -Cars

    -Airplanes

    -Nuclear energy

    - Medicine

    -Internet

    -composite materials (Plastics)

    -computers

    -cellphones.

   So those of us alive today, look back in time and say "what was life like before the internet (or computers, or medicine, or cars, etc"

   I believe that money will be the next target of technological innovation.   Just like the internet was essentially an attack on print media, or cellphones were an attack on payphones and landlines, I believe Bitcoin will be an attack on banks.  Not just banking, but the idea of banks and governments controlling our money supply.   Its ripe for technological innovation, and I believe it will be next and it will be world changing.

  This blog will be about Bitcoin.   I personally believe that in 10 years people will look back and say "what was life like when people used cash, checks, debit cards, banks"

If anybody reading this wants some bitcoin to play with (yes free money), at any time, please create a coinbase account and post your wallet address in the comments.  I will send you frictionless money.