by Paul Rosenberg on August 29, 2014
Bitcoin made big news over the past year or so, when the price spiked and made some people rich. The possibility of fast money always generates a lot of commotion, and it certainly did this time.
Personally, I didn’t want the price of Bitcoin to spike; it grabbed people’s attention for all the wrong reasons. Cryptocurrencies—of which Bitcoin is the first, the best known, and currently the most important—are a revolution in commerce. But they are also much more than that.
Bitcoin is an intrusion into a stasis-oriented world: the child of radical concepts and cryptography, birthed by confirmed outsiders. This is a new and different thing, not a slightly different financial tool.
But even this is not what matters most about Bitcoin.