Category Archives: Bitcoin

TALES FROM CRYPTO-WORLD: Bitcoin, New People’s Money or just a Sham.

 

As it is an engineering blog it is only appropriate to also include in it newest so-call financial engineering products and services especially when they are being peddled to broader audience and not just to specific IT/Fintech Astroturf.

One such product or rather concept is a concept of Bitcoin (moniker: BTC) that is being pushed as a form of digital crypto-money (cryptocurrency) supposedly with a novel/innovative 21st century characteristic namely: no bank or any concentrated dedicated intermediary needed.

Although you can read about Bitcoin in Wikipedia and still I encourage you to do so, you will find there a bunch of obfuscations, simplifications and lots of tautologies, Astroturf hype and particular interests, peddled there and elsewhere like on a the Bitcoin Foundation website [I will include some links later in the post] it is of utmost importance to cut through most of this promotional bullshit only misleading newcomers to the subject as to what primarily Bitcoin is all about and what and whose interest it really serves.

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