• Bitcoin Blockchain
    Economics,  Finance

    Digital Money: Where Does Bitcoin Come From?

    Being financially-savvy is essential for the preservation or improvement of one’s social status. The Encyclopaedia Britannica lists four major economic crises and upheavals that occurred since the Great Depression in the 1930s. Establishing bitcoin was one of the responses of some tech enthusiasts to the 2008 Global Financial Crisis. It showed the inherent weaknesses of traditional financial institutions such as banks. Thus, Bitcoin presented itself as novel currency system that would not have the inherent shortcomings of traditional currencies. According to the Center for Alternative Finance – University of Cambridge, there are at least 2.9 million unique users in 2017 that used bitcoin-filled digital wallets. “Mining” Bitcoins Bitcoins is loosely…