For over a year now I’ve been imagining a peer to peer currency. I imagined it as a git for money.
Last month I discovered that this peer to peer currency now exists; its name is Bitcoin.
A brief summary from wikipedia:
Bitcoin is a digital currency created in 2009 by Satoshi Nakamoto. The name also refers to the open source software designed in order to use it. Bitcoins, abbreviated BTC, can be saved on a personal computer in the form of a wallet file or, kept with a third party wallet service, and in either case, can be sent to another person over the Internet to anyone with a Bitcoin address.
Unlike most currencies, the bitcoin does not rely on trusting any central issuer. Bitcoin uses a distributed database spread across nodes of a peer-to-peer network to journal transactions, and uses cryptography in order to provide basic security functions, such as ensuring that bitcoins can only be spent by the person who owns them, and never more than once.
Bitcoin’s peer-to-peer topology and lack of central administration make it infeasible for any governmental authority, or anyone else for that matter, to manipulate the value of bitcoins or induce inflation by producing more of them. Bitcoin’s design allows for anonymous ownership and transfers of value
This blog will follow my exploration of Bitcoin, and my exploits building tools for the Bitcoin ecosystem.
My name is Mark Suppes. Previous credits include building an open source nuclear fusion reactor.