NewLawLawLand
NewLawLawLand

Bitcoin, the new digital currency: Should Entrepreneurs care?

What is Bitcoin
Digital revolution is now at the doorsteps of challenging currency of nations. Bitcoin (BTC) is a digital currency, often traded anonymously, outside banks and regulations. Obviously, BTC has captured the interest of conspiracy theorists, financial skeptics, money launderers, and financial revolutionaries. It’s basically an open source digital IOU system, a peer to peer exchange allowing for the payment of goods or services. BTC moves easily between borders, with low fees and reporting requirements. BTC are issued (and controlled) according to a number of completed super computational tasks. Apparently, these super computational tasks are limited and will be reached by the year 2140, for reasons that I cannot possibly understand (being just a lawyer, not a math wiz).

Given BTC’s dark “niche market”, why would the rest of us be interested? Read More