A Digital Currency

New Generation of Payment

Bitcoin is a decentralized currency that operates electronically. Transactions occur internationally because no government is involved with Bitcoin. Some consider Bitcoin to be the peoples currency because it cannot be produced secretley by governments to settle their debts or fix the economy. Every Bitcoin transaction is posted publicly on the Blockchain. Duivestein, S. (2015, April 16). Bitcoin is the world’s most dangerous idea.
Retrieved from (Kharpal 2015)

Digital World

Facebook creator Mark Zuckerberg talks about how Facebook’s future is heading in the direction of virtual reality. Along with Zuckerberg much of the world is heading in the direction of digitizing life and Bitcoin could help this. Duivestein, S. (2015, April 16). Bitcoin is the world’s most dangerous idea.
Retrieved from TNW website:


Critics of Bitcoin say it could give corporations to much power and allow them to do things without sanctions. “Companies whose mission statement is encoded into the blockchain and can thus operate completely autonomously. These so called Decentralized Autonomous Corporations (DACs) aka Robocorps are a new economic entity, next to people and corporations, that are entering and participating in our economy and society (Duivestein).” This would give progamers and major corporations an unfair advantage over common people. This could potentially make the wealth gap even greater all over the world. This and the ability for illegal activity can give Bitcoin a bad rep.

Applications of Bitcoin

Bitcoin was also used to purchase many illegal items by a robot including drugs before it was arrested by Swiss police. This was done by a art group. Some of the things the robot bought were ecstasy and a Hungarian Passport. Kharpal, A. (n.d.). Robot with $100 bitcoin buys drugs, gets arrested. Retrieved

(Kharpal 2015)

A positive purchase made using Bitcoin was 2 large Papa John’s pizzas back in 2010. The customer spent 10,000 BTC at the time which today is worth $5.2 million. Caffyn, G. (2014, May 22). Bitcoin Pizza Day: Celebrating the Pizzas Bought for

10,000 BTC. (Caffyn G. 2014)

(Life Inside Chinnese Bitcoin Mine)

Life Inside a Secret Chinese Bitcoin Mine