Bitcoin: The new Gold Standard
A Quick Blog to get the juices flowing. Seth Godin Style.
Bitcoin keeps drawing me back to it like a magnet. I occasionally pop my head up from my laptop and mention it to my girlfriend. She doesn’t know what it is.
The other day it hit $11000 and i sat there, like many, remembering when it came out and thinking ‘fuck!’.
I could be a billionaire.
Tai Lopez is an internet marketing superstar who is now teaching it. It’s obviously a sign, as well as the hype and the fact the user numbers are going up. The fact that in countries with dodgy currencies the markets are going to bitcoin. The fact it’s (in theory) not subject to national banks. How exciting! A new Gold Standard.
I heard a mention of the Gold Rush, a mass bubble?
How did the Trumps start in business? Providing services (hotel rooms) to the diggers, entrepreneurs and go-getters during the gold rush.
I wrote about it here Donald Trumps Grandfather and the Gold Rush that started the Trump Empire
My girlfriend doesn’t know what Bitcoin is. If I can teach her I can teach thousands. I can service the ‘industry’ and that is it. Bitcoin looks set to stay, if you facilitate the new appetite for such a new medium of exchange, your a step ahead of many, with the flexibility to target a grass roots, the likes of un-trusted banks and establishment can’t get near.
And then we have Blockchain?
(Taken from Wikipedia) Blockchain
The blockchain is a public ledger that records bitcoin transactions. A novel solution accomplishes this without any trusted central authority: the maintenance of the blockchain is performed by a network of communicating nodes running bitcoin software. Transactions of the form payer X sends Y bitcoins to payee Z are broadcast to this network using readily available software applications. Network nodes can validate transactions, add them to their copy of the ledger, and then broadcast these ledger additions to other nodes. The blockchain is a distributed database – to achieve independent verification of the chain of ownership of any and every bitcoin amount, each network node stores its own copy of the blockchain. Approximately six times per hour, a new group of accepted transactions, a block, is created, added to the blockchain, and quickly published to all nodes. This allows bitcoin software to determine when a particular bitcoin amount has been spent, which is necessary in order to prevent double-spending in an environment without central oversight. Whereas a conventional ledger records the transfers of actual bills or promissory notes that exist apart from it, the blockchain is the only place that bitcoins can be said to exist in the form of unspent outputs of transactions.:ch. 5
Now where else can this system of online ledgers serve?…