A cryptocurrency is a digital asset stored on computerised databases.These digital coins are recorded in digital ledgers using strong cryptography to keep them secure. The ledgers are distributed globally, and each transaction made using cryptocurrencies are codified as blocks. And multiple blocks linking each other forms a blockchain on the distributed ledger.
Why does bitcoin matters
This is the best intro to why you should be excited about Bitcoin. Andreessen Horowitz has been a major investor in Bitcoin related companies, and Marc Andreessen has been talking about its potential since the early days.
“One can hardly accuse Bitcoin of being an uncovered topic, yet the gulf between what the press and many regular people believe Bitcoin is, and what a growing critical mass of technologists believe Bitcoin is, remains enormous. In this post, I will explain why Bitcoin has so many Silicon Valley programmers and entrepreneurs all lathered up, and what I think Bitcoin’s future potential is.”
Bitcoin- The internet of money
Naval wrote this post back in 2014, explaining how Bitcoin was so much more than just an online currency. He walks through some of the potential applications of the technology, many of which have since started being worked on by startups.
“Most people are only familiar with (b)itcoin the electronic currency, but more important is (B)itcoin, with a capital B, the underlying protocol, which encapsulates and distributes the functions of contract law.”
How bitcoin will change the world
Brian is the founder of Coinbase and wrote this article to explain how cryptocurrencies like Bitcoin could have a massive positive impact on global prosperity. The short version: as economic freedom increases, prosperity increases, and crypto has the potential to provide greater global economic freedom whether governments like it or not.
“Economic freedom is one of the great meta-problems of our time (right up there with A.I., quantum computing, and cheap renewable energy). If we can create more economic freedom in the world, it will serve as a giant economic stimulus package for the world, accelerate innovation, reduce wars, make the poorest 10% better off, overthrow corrupt governments, and raise happiness.”