The Science Of ...

How Bitcoin may be the death of money (and central banking) as we know it

Cryptocurrencies are digital currencies in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.

There are numerous cryptocurrencies of which Bitcoin is, by far, the most well-known.

The Money Show's Bruce Whitfield interviewed Scott Cundill, internet entrepreneur, researcher and founder of Majestic3.com, for his weekly "The Science Of" feature.

Scroll down to listen to the audio.

eBucks is not a cryptocurrency, because it is centrally created.

Scott Cundill

This can disrupt banking in the way that Uber has disrupted the taxi industry.

Scott Cundill

Cryptocurrencies won’t ever close down like the banks are doing now in Greece.

Scott Cundill

Currencies now are based on confidence. It’s not backed by anything, only debt. Is it not worth looking at alternatives?

Scott Cundill

The acceptance of Bitcoins is growing exponentially. There are now more than 100 000 merchants around the world that accept it.

Scott Cundill

The most beloved aspect of Bitcoin is the block-chain technology that supports it.

Scott Cundill

Bitcoin came out in 2009. We don’t know who created it.

Scott Cundill

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This article first appeared on 702 : How Bitcoin may be the death of money (and central banking) as we know it


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