Today’s episode of the Digital 100 Show – episode #032 – I talked about Bitcoin and cryptocurrencies finally. I’m so excited that I finally have a chance to talk about Bitcoin this is a topic that I wanted to discuss something the early days of the show. The Early episodes of digital 100 cover a lot of digital security which is based on anyone looking to get into the cryptocurrency world. Today I’m excited to finally talk about Bitcoin and more detail and cryptocurrencies and the role they play together as well what the future holds for Bitcoin, cryptocurrencies and blockchain.

Cryptoassets: The Innovative Investor’s Guide to Bitcoin and Beyond
https://amzn.to/2PXMkse

Bitcoin explained and made simple | Guardian Animations
https://www.youtube.com/watch?v=s4g1XFU8Gto

What is Bitcoin? (v2)

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Here is a great joke commercial on Bitcoin by Saturday Night Live

Bitcoin Commercial: What Is It and How Does It Work?
https://www.youtube.com/watch?v=aeMv9uKpAZg

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Also I go over cryptocurrencies and how they relate to the environment of Bitcoin, discussing how they’re more of a casino for gambling away Bitcoin rather than an actual value add service or solution. that doesn’t mean that some cryptocurrencies will not increase in value but the large majority will disappear and be valueless. Because at the end of the day they’re either a water down copy of Bitcoin, some cryptocurrencies like Ripple have the opportunity to increase because they are working with the traditional banking system to integrate themselves which makes for an easy sales pitch by stock Brokers to simple investors as a gateway to “ blockchain” riches for all. when in reality the only cryptocurrency and the only technology that uses blockchain and adds value is Bitcoin all others are not worth investing and should be seen as gambling and speculation.

I think Bitcoin will provide a technology layer that will be the next evolution of how we transact and how we can add complex artificial intelligence and programming to multiple actions that will include Financial transactions.

The video below does a good job of explaining the layer of technology that will be created because of Bitcoin.

Can you explain bitcoin in a 2-minute video?
https://www.vox.com/2015/11/3/18053494/can-you-explain-bitcoin-in-a-2-minute-video

When you take the time to disconnect the price of Bitcoin from the actual technology it becomes a lot more exciting and easier to see how prevalent this will be in just the next 10 to 20 years. Right now we are seeing financial institutions using Bitcoin as a clearing solution and I can see the day that banks creating their own internal clearing systems using a “blockchain” technology that relies on the bank’s servers and employees to run it so in no way being like Bitcoin which is immutable – anything done in any other format has the possibility and potential for some sort of hacking.

Keep Building Secure Digital Business.
Patrick Wagner

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