Is Bitcoin Going Mainstream?

Editor’s note: this is a guest post by Rupert Hackett, who works for an Australian bitcoin business group, is studying the world’s first Masters in Digital Currencies and regularly blogs for

Bitcoin has been called a lot of things, a scam, a Ponzi scheme, a bad investment and even ‘one of the most powerful innovations in finance in 500 years’ -WSJ. Bitcoins history is marred with scandals, gaining reputation as the currency of choice for those wanting to obfuscate the law. But from these troubled beginnings lies a ‘techno tour-de-force’ – Bill gates, set to reignite the financial industry into a new innovative era. Investment in bitcoin related startups is currently sitting around USD $700 million and growing fast.

Bitcoin the technology is not perfect, but it has abilities we have never seen before. For example, the Blockchain creates a distributed public ledger allowing for verifiable record keeping, no central authority needed. This forms the backbone of a system that is cheaper, faster and more secure than any other system; it’s the first time you can send money to anyone in the world for free, without a third party. Explaining Bitcoin in depth would take multiple pages, a primer in cryptography and some dedication on your behalf. For the purpose of this ‘primer’ understand that Bitcoin is fundamentally a technology with far-reaching transformative ...

There’s more to this article! Click the button below to continue reading.

Top recommendations for you: