Bitcoin and Online Currency
A Look at the Digital Financial Revolution
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Bitcoin and Online CurrencyA Look at the Digital Financial Revolution |
Money’s been around forever, but about 15 years ago, something totally new showed up—Bitcoin. This digital currency, created by someone (or some group) called Satoshi Nakamoto, started a whole movement of online currencies that don’t need banks or governments to work. It's wild to think about, but these currencies, based on something called blockchain, are changing how we pay for things, invest, and even think about money. Bitcoin's advent has caused a global financial revolution, as per Antonopoulos (2014). This essay examines three big sections of this story: how Bitcoin and other web currencies got started, the tech that makes them tick, and how they’re shaking up economies and banking worldwide.