I posted about a bitcoin meet up in NYC on Facebook and a friend replies with the following:
After being uninterested for the first two years of hearing about Bitcoin, I finally took the time to do the research and learn what it actually is. To my surprise, I had misunderstood it, and the realities of this new technology are absolutely mind-blowing. It’s more than just innovation for the sake of it; it’s about sowing new ideology into the backbone that controls everything in this world—the financial infrastructure.
In the heart of it all, a space has been created on Wall Street, and what started as a group of essentially hackers are finding their way into the system itself by designing a better way for economic assets to be exchanged. Here’s how it works: we can digitally send real-world items such as money or any kind of value or asset from our phones and computers over a peer-to-peer network, without the need for a traditional financial infrastructure. This means no fees and no controlling powers dictating what we can and can’t do with the currency we earn.
What’s even more fascinating is that Bitcoin is programmable money. Imagine automatically splitting revenue from a film among collaborators or using crowd funding for a film project to unlock additional features and experiences. It’s all incredibly cool stuff! The value of Bitcoin increased by a staggering 5000% in 2013, thanks to its cryptographically limited supply and high demand. Many predict that 2014 will be an even bigger year since we’re just scratching the surface.
While most of my life savings are tied up in the film I’m finishing, I’ve decided to store the little money I have in Bitcoin, where its value has significantly appreciated. Why let your money sit idly in a traditional bank account when you can ride the edge of this new technology and invest in Bitcoin? However, it’s important to educate yourself before diving in. Mistakes can be costly since this involves real money. So, I encourage you to attend the NYC meet-up linked above or read up on coindesk.com to become a Bitcoin expert.
Furthermore, Bitcoin is an expanding field that requires consultants, developers, marketers, inventors, and artists. There are numerous directions you can take with it. It belongs to no company—it’s free for the world to build upon and expand. Embrace this gift!
Arin Crumley 