What is bitcoin? And why should I care?


Have you been hearing a lot about Bitcoin, but still not entirely sure what it is? It might be time to learn more. After all, the new cryptocurrency on the block has left a lot of people very confused, and some lucky people a lot richer than they were before. It is essentially a new, digital currency that people can choose to “mine” via their computers, or to buy into. This is, however, a hyper simplification of what occurs on sites like Zipmex’s exchange, where people can buy and sell not only Bitcoin, but other forms of cryptocurrency (like Etherium and Litecoin, to name but two examples). Not only that, but these three are not the only cryptocurrency out there. Technically, there is a countless number of potential options that can be mined and created, bought and sold.

All of this can leave the less tech-savvy of us out there confused and lost. Even purchasing bitcoin can be a confusing first hurdle for many looking to get involved, although you can find out more on that when you visit xCoins. Thankfully, there are resources that break things back down to the simple bullet points. This makes these resources a great tool for those trying to break into these markets, for those looking to make a new investment, or for those who are simply curious and want to learn about it. As one example, this easy-to-read ebook answers the following questions:

  • What is Bitcoin?
  • Why should I care about Bitcoin?
  • How do bitcoins get exchanged?
  • Are bitcoins money?
  • Why should a business accept bitcoin?
  • Why should I personally use bitcoins?
  • What are the risks?

You can download the ebook at http://coindale.com/bitcoinbook.

For Bitcoin to hit the mainstream, it needs to address its gender issue


image: freshphoto

Bitcoin and cryptocurrencies are finally becoming more well known with there being a Dragons Den Bitcoin episode, more investors are paying it attention and it is increasing in price every month. It seems like only a matter of time before it breaks through into the mainstream and everyone knows about it – but what could potentially stop it from reaching the success it is predicted to have?

Bitcoin has a woman problem that, unless solved, will keep it from hitting the mainstream as a medium of exchange, at least in the US. You can tell because there are useful websites similar to https://cryptoevent.io popping up providing useful information for those who are interested in getting into Bitcoin. The following conversation is primarily aimed at the particular challenge Bitcoin faces in getting to mainstream adoption, and is not focused on the speculative rises and falls that have dominated the news cycles for the past few weeks in particular. For those who are interested in trading and cryptocurrency investment, you can find more here, but for now, discussed here will be a social issue rather than an economical one.

Right now (Dec 2013), the overwhelming majority of activity in the Bitcoin space is dominated by males. In doing a review of the market for consumer activity, and then comparing it to the market at large, it is clear that there is a significant gender gap that will need to be filled before Bitcoin can hit the mainstream as a payment mechanism in any meaningful way. Although all web statistics of this type are prone to some margin of error, these are certainly directionally correct. Read more at Coindale.

Andreessen Horowitz invests $25 million in Coinbase

For those of you who don’t know, Coinbase is a secure platform that makes it easy to buy, sell, and store cryptocurrency like Bitcoin and Ethereum. In recent years, more people have been researching other investors Bitcoin Prime Ervaringen (Bitcoin Prime experiences) and have been wanting to invest in cryptocurrency. Of course, the digital natures of the currencies mean they can’t do this without a platform on which to trade. This is what makes Horowitz’s investment such a big deal — Things just got very interesting in the bitcoin space especially with a new Bitcoin System being released seemingly every month. Andreessen Horowitz, never a firm to shy away from large bets, just invested $25MM into Coinbase. It looks like other current investors including Union Square Ventures and Ribbit Capital were also a part of the Series B raise. If you keep an eye on the state of Bitcoin, you will most likely have an opinion on whether or not it is a good time to invest or not – bitcoin investieren oder nicht. The story from AllThingsD:

“If you’re a bitcoin doubter, you might want to turn away. The doors to venture funding in bitcoin startups are about to swing wide open.
Andreessen Horowitz has led a $25 million Series B investment in San Francisco-based Coinbase, the companies are announcing today, in what may very well be the largest-ever venture investment in a bitcoin-related company. Coinbase previously raised nearly $7 million.
Existing investors Union Square Ventures and Ribbit Capital will contribute some cash, as well. And Union Square’s Fred Wilson and Andreessen Horowitz’s Chris Dixon are taking seats on Coinbase’s board of directors.”

Read more at AllThingsD.

Coinbase founders

Coinbase founders Brian Armstrong and Fred Ehrsam (AllThingsD)