Bitcoin: A 21st Century Currency Explained By a Wall Street Veteran

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Jason Leibowitz is a former Wall Street veteran who pivoted careers in 2014 to focus full-time on digital currency.

In this paper, Leibowitz answers questions about how bitcoin was created, how it works and because it matters.

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It has been described as a “techno debate de force” by Microsoft owner Bill Gates, and as a “remarkable cryptographic achievement…that has huge value” by Google CEO, Eric Schmidt. It was even likely by Nobel Prize-winning economist Milton Friedman in 1999 when he said, “The one thing that’s missing, though will shortly be developed, is a arguable e-cash.”

Friedman was a visionary, and in this instance he was a decade forward of a rest, foreseeing a appearance of digital currency, and some-more specifically, bitcoin.

Bitcoin’s arise to inflection is causing a tellurian rethink of a judgment of money. For thousands of years, bullion was a banking of a land, and many of gold’s qualities have authorised it to mount a exam of time. As civilization grown and industrialized, statute bodies schooled that copy a government’s possess currency, called fiat, was a some-more available and easier process of distributing resources in society.

However, government-backed income has not stood a test

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