The notion of national currencies and fiat money is central to modern economies and government financing. I can't see a world in the foreseeable future, where sovereign nation states give up the control over what currency must be used for conducting its business.
Through recent conversations with various friends and colleagues, it has become apparent that Bitcoin is somewhat of a mystery to the majority of the population. The common query, even among seasoned investors, is inevitably, "What is Bitcoin?"
Bitcoin transactions, unlike credit card purchases, are irreversible. If you buy merchandise with bitcoins and the merchant fails to deliver, that money is now securely in his hands. There will be no third party company to go to bat for you
Bitcoin is managed by a peer network; it is a currency not under the control of any government. Some argue this means it will be a low risk global currency, not buffeted by the performance of any national economy.
With the right investment, dedication, and strategy, you can literally manufacture a revolutionary new currency and then trade it for dollars, or buy goods and services at hundreds of merchants. Sound too good to be true? Read on.