Bitcoin Series

Bitcoin Series

 

 

 

 

 

 

 

The Ethics of Bitcoin (Video)

Bitcoin is quite a phenomenon. This power point video gives a short history of the virtual currency. Some argue Bitcoin is evil. Is it? The video analyzes the ethics of the product and its uses. VIEW VIDEO…

 

 

More on the Ethics of Bitcoin

Bitcoin is a digital currency that uses encryption techniques to verify the transfer of funds. Bitcoin transactions take place on a peer-to-peer basis and consequently the currency operates independently of third party payment providers as well as government and banking regulation. Transactions using bitcoin are confirmed by a transaction ledger called the blockchain, which makes all transactions using the currency public to those within the bitcoin network. Bitcoins are created via the process of mining, which involves solving complex mathematically equations using powerful computers, the limit of 21 million bitcoin has been set on the amount that can be mined, after which no further bitcoins will be made available. The bitcoin software is open source, however, it can only be changed with the majority consent of those within the network. READ MORE…

 

 

 

 

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