Bitcoin
I am new to the Bitcoin bandwagon. I have heard about the cryptic currency for years, but it was more in context to this underground currency that drug and smut smugglers traded with than anything. Two days ago, I received a message from a friend that piqued my interest in it. Up until this point, I know absolutely nothing about it. I could not sleep that night. I read and listened to many different things regarding the currency. Essentially, Bitcoin, or BTC is a digital currency that does not require a third party to transact with it. IOW, if I say, want to send money to the prince of Somolia's long lost nephew, I can without having to go through Wester Union or a wire transfer, mitigating or eliminating transaction costs to me. The ultimate goal of cryptocurrency is to eventually be a major method of transacting with other people in a private, secure manner eliminating the central banks. Now, admittedly, I do not really understand the ramifications of the elimination of the cen...