The 6th Wave of the Internet
The 6th Wave of the Internet – Crypto Currency:
The next revolutionary event to happen to the digital world is Crypto Currency. In fact, Crypto Currency could be one of the greatest inventions since the internet. A currency was born in the evolution of data sharing and data encryption. It didn’t hurt that the world was now able to connect socially. Bitcoin was created in the aftermath of failed government attempts. An encrypted currency that could be transferred without interception was what governments wanted. In the end, it took one genius to see the bigger picture and put various pieces of failed attempts together.
The alias used to publish a paper which introduced Bitcoin to the world was Satoshi Nakamoto. No one to this day knows who Satoshi really is, as this person or group has never surfaced to take credit. Some think they have stayed anonymous because they have horded many millions of dollars in Bitcoin.
The 6th Wave of the Internet – Bitcoin:
Bitcoin is a currency, but not the typical type. There is no central bank, and therefore no fees and no cost to use the currency. One would generally pay a fee to the bank to transfer money, or percentage to convert currency. Unless you want to convert Bitcoin to another currency it does not need to be exchanged. It is a global currency because, as stated, there is no central bank-you yourself are in fact the central bank. You keep your Bitcoin in your own digital wallet, which essentially acts as a bank account.
The difference is that you have a certain ownership and control over the account. However, there are some dangers in using Bitcoin. Hard drives can become corrupt, viruses may get downloaded and equipment gets damaged. Corrupt hard drives, viruses and damages all affect the operation of a computer, smartphone or tablet, and in turn they can also affect your Bitcoin wallet. You can literally lose all of your Bitcoin when it is not stored securely. Making security and redundancy an important part of Bitcoin.
The 6th Wave of the Internet – Bitcoin History:
Over time Bitcoin has received a bad name by association with The Silk Road and the Tor underweb. Bitcoin was first used to buy drugs, weapons and other illegal goods in a secret place on the internet called the Deep Web. A site called The Silk Road was and likely still is the largest website where these transactions occurred. One of the most secretive criminal forums in history was created since there is no way to trace where a payment came from or was sent. It was purported that The Silk Road had over 1 BILLION dollars flowing through it at its peak. Recently the FBI arrested a man whom they claim is the creator and owner of The Silk Road, and as such the Bitcoin revolution continues to be a topic of much discussion and much debate.
I have seen the internet go through many waves and consider myself lucky to be living in such a technologically advanced time. From websites to Bitcoin, I have witnessed the evolution of mediums that will be with us for many years to come. Imagine the things people were going through during the first years of the radio, the telephone, and the television. Those are the times we are in right now with respect to the internet, websites, messaging, social media, the cloud and crypto currencies. The internet and everything it has to offer has always intrigued me. Therefore it’s not surprising that that I chose Information Technology as a career. My wonder of computers and everything associated with them has given me the drive to stay in the IT industry for over 15 years and start my own IT business. I am pleased to help with your Information Technology issues.