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 central banks and I would venture to guess that most people don't know either, but the technology seems promising and at the very least, appears to not be a fly-by-night idea that will simply vanish. I would venture to guess that less than 1% of the US population knows about Bitcoin and cryptocurrency. This makes it a potentially very profitable investment, if you want to call it that. Please take note however, you must do your own hoemwork on this subject. Things are changing very rapidly in this market segment and this could be a colossal, abysmal mistake. On the other hand, it could be a very, very lucrative undertaking for some people that have the stomach for ups and downs. Btc started trading at 8cents some years ago. That same BTC is now worth $10k each at the time of this writing. Some investors speculate that BTC might potentially reach $40k each or higher. At the very least, this is interesting to say the least.