Schermafbeelding 2013-03-01 om 21.24.19

[translation original post] Bitcoins are like digital paper banknotes without the paper (NB Paper banknotes are numbered, coins are not numbered, bitcoins ARE numbers). An oxymoron seemingly, but it is still the easiest way to describe digital money ala Bitcoin which is not physically bound but bound to the electronic reality. It is thus possible to exchange “value” directly and anonymously between parties e.g. mobile to mobile, without the intervention of third parties. The possible implications of digital money are enormous. It is the ultimate “tokanisation” of money: the token is the money.

Bitcoin is actually a private, unregulated currency. The more users, the more transactions and conversions in other currencies, the more fluid the market is.

Bitcoin is increasingly in the news, banks and companies are starting to embrace Bitcoin as a way to pay / receive.

To start Bitcoins is simple: open a wallet on e.g. install the app on your mobile, tablet computer, you can use a QR code to easily “pair” the device with the wallet. Now buy some bitcoins in an exchange (e.g. via PayPal account or CC) It is child’s play! Now find anyone that can or want to exchange money…

PS It is my intention to further explain specific aspects of Bitcoin in future posts.