It’s all been swept up by the digital deluge- the way we create, consume, socialize, learn, all of it. Yet no matter how much of the analog world seeps into the digital realm, the almighty dollar continues to resist the pixel-y tide. The act of currency creation remains an esoteric, behind-the-scenes process controlled by a few privileged, monocle-clad, suit-wearers with fancy titles and special permissions.
Actually, we do have digital money and it’s called bitcoin. It does work, it’s safe and it’s easy to use. On top of that, for the first time ever, no government, corporation or human being can claim dominion over, control, destroy or create a currency. Bitcoin is decentralized, open source, peer-to-peer, lives completely online and created through a programmatic process.
Practicality wise, you can already buy basically anything using bitcoin and a growing number of merchants, services and corporations are accepting it every day. In fact, mainstream, multi-billion dollar companies like Paypal, Microsoft and Dell are rolling out bitcoin integration as we speak. There are also some major venture capital dollars flowing into bitcoin-based businesses.
With momentum like this, you’d expect the price of bitcoin to be soaring, yet just the opposite is true. In the last year, bitcoin’s price has plummeted from $830 per coin to $200. How and why did this dramatic contraction occur? What is the fate of bitcoin? These questions are certainly up for debate and that’s why Will Pangman is on the show.
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