After being bombed by email requests for several months, we finally gave and made a “radioophanical” podcast on Bitcoin. The episode is called “Why people who didn’t hate Bitcoin love it”. The GIST – think about Bitcoin as a single digital currency is like reflection on the internet as an email. The visited Bitcoin is much larger and more interesting than that.
Bitcoin is never described as “Virtual Gold” and a whole ponzi system to a sanctuary for peace to buy products from the black market. But what Animes some people, who veteran in the Silicon Valley Marc Andreessen, is likely to form the basis of a number of transactions, well on the simple exchange of money.
Andreess has particularly founded Netscape and is now the board of companies such as Facebook and eBay. It is not a selfless observer in the Bitcoin debate: its investment capital in Andreessen Horowitz has invested $ 50 million in two companies related to Bitcoin, such as CoinBase, and Andreessen claims that his company is considering investing much more to facilitate the number of Bitcoin.
Why trust? The reason, Andreessen tells our own Stephen Dubner, it is because Bitcoin is the “solution to an elemental problem in computer science”. “One of the missing things on the Internet for 20 years is a kind of home concept,” clarifies Andreessen. “The ability to easily pay any online, the ability to charge very easily for content, the possibility of very easy replacing a digital title, or a digital key or digital contract has just missed because you have no apparatus for building trust. And therefore Holds Bitcoin usually the promise to be the first solution to establish trust through a network entrusted. “
An award-winning at Stanford Susan Athey University, which also has a good advocate for technology that supports Bitcoin technology. For Athey, the control of Bitcoin has to do with its simplicity: “The beauty of a new currency that is part of a virtual currency protocol is that what I move from me to you is just a record on a good public book. And that public book supported by a set of computers that everyone talks to each other with a protocol. So I don’t have to fear a bank that gave me an iou, then to give this person as well as giving it to another bank. Instead, if I make a Transaction at virtual currency, it is just an entry into the big book. So I do not need an intermediary. “
It is obvious, a page that reverses the simplicity of the transaction as Bitcoin gives himself. The superintendent of the New York Financial Services Benjamin Lawsky, which makes the control fee for the digital currency in the United States, indicates to Dubner that he is concerned about Bitcoin freedom to criminals: “He is very difficult to carry a million dollars in strong currency abroad. You cannot Just put it in a backpack and get it on a very simple airplane. But it is very easy to do it now with Bitcoin. “
That said that Lawsky is motivated by the chances of technology as Bitcoin, who could slaughter all forms of transaction fees. This can be a bad news for local banks, credit card companies and other intermediaries seeking fees. But when Loitersky points out, many others are kept to enjoy: “Right now there are thousands and thousands of New York cities that work hard every day to send money to their families in the country where they come. And as an artist, they pay For these bank transactions every week at the end of the week. And there is a lot of money for people who do not often afford. “