BitCoin.
BitCoin Presence.
Who Shall Be Affected..?
Middleman or Middlewoman.
For example.
The price of Coconut in a Village is $ 1.00
Sold in town for $ 6.00
The Middleperson gets $ 2.00
A and B. A wants to sell a house. B wants to buy a house.
They arrange loans from a Bank.
Meet a lawyer to sign an Agreement.
Information sent and recorded in the Central Bank.
January 3rd 2009.
The BitCoin Network
is No One in Control.
No One is in Charge.
The World changed on that day.
Trust emerged. Purely between People.
Not knowing each other.
Never met.
Located across the Globe.
For the first time a system that has no Control.
As the result of Collaboration, Computation, and Communication,
through CryptoGraphy...
People as Peer-to-Peer
directly without any intermediary can do transaction.
No middleman or middlewoman.
They can exchange Money, thus Value.
BitCoin.
The BitCoin Currency.
So BitCoin is the Software,
the Application
the name of the New money,
run using the Computer.
Thus, BitCoin has no physical form.
Abstract. Intangible. Cannot be Touched. A Form of Money.
Can be used to Buy and Sell. Trading.
No centralized record.
A company or an Institution.
No Boss. No Woman or Man in Charge. No Royal. No Family owning.
without a Central Bank.
But a Crowd of Individuals each validating independently a transaction.
BitCoin cannot be forged, cannot be counterfeit, cannot be censored,
cannot be erased, cannot be ceased or frozen.
BitCoin can be transmitted any where around the world via Internet,
it is moving as Information.
How to Steal..?
How to Counterfiet..?
How to Rob..?
How Those in the middle. Always in between, earning.
How is the Central Bank which is privately owned..?
So far, so safe.
BitCoin still flowing around the world.