14 Dec 2014

bitcoin and me

by | posted in: technology | 0

I stumbled upon a blog posting August 2012 describing Bitcoin.  There were a few items that stood out in my mind that made this interesting:

  • Open Source software, this was important to me because it mean that I can actually look at the code and understand how it is constructed.  I also means that it the code can be reviewed by others.
  • Sound monetary characteristics, it’s distribution is based mathematical formulas, so people can intervene.
  • The Blockchain technology, a fascinating idea with numinous applications.

After about a month I invested a few dollars in some bitcoin, and used it to purchase a copy of bitcoin magazine.  That was on September 20, 2012, the magazine cost $8.63 with shipping, which at the time was 0.7154 BTC. I’ve been immersed in blockchain and cryptocurrencies ever since.