Bitcoin, Cryptography and Trustless Exchange

Rethinking Prosperity

By Stuart C.

As a disclaimer: I do not use Bitcoin because, as of yet, I do not feel like I understand the financial risks and security flaws enough to mitigate the risks associated with this emerging technology. This post will be more about what change crypto-currencies like Bitcoin (along with cryptography) will bring about in the world, rather than more specific technical specs about the protocols and digital structures behind the blockchain. I will use the term “Bitcoin” as it is the most popular crypto currency, but please note that it may not be the end-all-be-all of digital currencies. If you would like to learn more about the technical side of Bitcoin specifically, is a good place to start.

Many wonder what makes Bitcoin so special. How is it different from paying with Paypal, a credit card number or other digital means of exchange? Why do governments want…

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