The All-MIghty Bitcoin (BTC)

I don’t want this blog entry to be about explaining Bitcoin (BTC), so I’ll point you folks looking for more information over to Wikipedia where they have a very in-depth article on the topic. What I will talk about in this post is a story of my involvement in the whole Bitcoin shenanigans that are happening on the net and where I think I’ll go with, or leave it.

In early June of this year I caught wind of Bitcoin really taking off through a friend who had started experimenting with solo mining using his CPU. At the time, I had thought nothing much of it and brushed it off as just another distributed project along the lines of SETI@Home or Folding@Home.

Over the course of a week or two, through bloggers and twitter feeds the whispers in the wind of Bitcoin had turned into a full on fog horn! Bitcoin was a modern day gold rush and if you weren’t in on it, you were missing out! The numbers at the time were ridiculous and it sounded like you’d be stupid not to get in on it. Earnings for miners being upwards of $2000 per month, people investing thousands of dollars in new hardware and obviously the news media coverage of the less glamorous use of Bitcoin… that of the drug trade through the Silk Road.

I didn’t want to be the last person to the party, so I jumped in.

Continue reading “On the subject of Bitcoin and creating free Money” »