#Bitcoin is for money, as email was for letters…

Great quote, and it puts the potential of bitcoin into simpler terms…Electronic money for an internet age. Email used to be the “new” thing.. back up not very far, and your grandparents had no idea what email was.. Today the internet is used by millions of all ages.

Bitcoin allows you to send money instantly, electronically, across all corners of the planet.

I was reading a great article last night on Business Insider, by Wences Casares, in which he postulates that Bitcoin may end up being a bigger deal than the Internet was!

Bigger than the internet

That’s why I think bitcoin is important: It’s relevant, and I think it will take time, just like the internet took time. But it may have more impact than the internet. If you go to Africa or Latin America, parts of Asia, and you sit down with not even a poor person, just an average person, and you ask, “Look, what would you prefer — free access to information [which they’re getting now with their phones] or a secure place to store the fruits of your labor and to receive and make payment?”

If they didn’t have either, which was true until recently, they would choose the second because it is more relevant to them. Right? So for 5 billion people, I think that bitcoin will be more relevant than the internet.

Great article, you can read the rest here:  http://www.businessinsider.com/how-bitcoin-may-have-more-impact-than-the-internet-2015-2

 

 

History of Money (What is Bitcoin?)

Outstanding article on the history of money, and how Bitcoin is the obvious organic evolution of payment systems.. Well worth your time to read.

 

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A long time ago on the island of Yap in Micronesia people used stones as money. Back then some African communities used sea shells as money, people in Asia used salt as money, and people in North America used beads as money, but on the island of Yap, you used stones as a way of saving, making payments and keeping track of prices. A lot of small stones would get you a really big stone; some were the size of an elephant and weighed more than 8,000 pounds. Obviously, you didn’t take the big stones home – you left them where they lay – but everyone knew the big stone was yours.

The people of Yap knew that stones did not need to be valuable to be useful. The stones became valuable precisely because they served as an effective way to save, pay, and price things.

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Read the rest of the article @Wences LinkedIn Page