Bitcoin: 15 minutes (or more) of privacy
Andy Warhol was right when, in 1968, he said "In the future, everyone will be world-famous for 15 minutes." Now that the future is here, what everyone seems to desire is 15 minutes (or more) of privacy. At least that's what occurred to me when I asked myself what problem Bitcoin, and more specifically, blockchain is trying to solve. Digital currency offers the ability to hide transactions, and is often associated with those who purchase illegal goods or launder money. But digital currency is also used for legal transactions and appeals to those with memories of the 2008 recession ; they want to have as little to do as possible with the banks that contributed to it, and that often means using some combination of credit unions, cash, and Bitcoin. Unlike Fiat money , Bitcoin is not backed by any government. It operates independently of any central bank and lives on the net. This is made possible by a mathematical token referred to as the blockchain. It follows t