Bitcoin is an entire digital currency that is posed as the future of monetary means. The currency is “mined” online through a complex system of algorithms and is a finite resource consisting of $21 million Bitcoins in total. Watch this 3min video for a detailed explanation.
Why I’m curious:
The idea of a self stabilizing currency is an amazing theory, and only time will truly tell if this can become a reality. Current speculation has been focused around Bitcoin and the ability for hackers to attempt to steal or slow down bit services. Every dollar was once backed by gold backing our bills with an guaranteed value, but now we no longer have that security Bitcoin on the other hand is also backed by no precious metal, however it does have a finite amount of Bitcoins that essentially limited the ability to simply print more. THrough this lens Bitcoins stop sound crazy and start sounding crazy awesome.