Although Bitcoin has been around for a good couple of years now, the massive variation in its price recently made it the hot topic of conversation.
If you are familiar with Second Life for example, chances are you have already heard and even used Bitcoin yourself. But if it is a whole new thing to you then you might be wondering: do I all really need to know about this or is it just another bubble? Well, opinions vary on this.
In the simplest way, Bitcoin is a digital currency with no central bank involved. It directly means money and that is not something that can be easily ignored.
However the security, privacy, and practicality issues of Bitcoin becoming a broadly working currency any time soon, still seems to be in doubt by some experts like Daniel Knowles as he spoke on Newsnight recently.
But on another note, innovation always means uncertainty and risk. And that’s somehow the whole point of it.
On May 1st, Shakil Khan announced the launch of his latest idea/project called
Four weeks ago, I had an idea for a project/startup/company. In 15 mins this idea will go LIVE … pic.twitter.com/EHTuMrgyFf
— Shakil Khan (@shak) May 1, 2013
Coindesk is in fact the global news resource on Bitcoin and digital currencies. By him being on the right momentum with exciting startups such as Spotify and Path, it only makes sense to keep a close eye on the subject of Bitcoin.
So.. do we really need to know about Bitcoin? I would say although Bitcoin is a controversial concept but the forward-thinking instinct suggests to keep up with it however at the same time the rational instinct suggests not to invest all your savings into it. If you are interested to know more about Bitcoin, how it works, how it is created (mined), etc then check the following links: