I'm happiest when I'm working on One Big Thing. I think I've found my next Big Thing, and I'm excited!
Bitcoin is a new kind of money that fixes a bunch of bugs in the old-fashioned money you have in your bank account and your wallet.
Getting excited about a new kind of money is kind of crazy. You're probably thinking I've been brainwashed by the loony wing of Tea Party that believes that the Federal Reserve was illegally created and that we should go back to a solid currency backed by gold stored in Fort Knox. Or that I've drunk the Rainbow Sunshine Kool-Aid of the loony wanna-be Socialists who think that local currencies are the answer to everybody's economic problems.
I'm excited because Bitcoin isn't a pie-in-the-sky theoretical idea for how to make a better currency. It is a working system that a few geeks (like me!) are already using and trying to break. It fixes these bugs in our current monetary systems:
- It doesn't require trust in any central authority; there is no central bank or company or board of directors controlling the currency.
- It is immune from long-term inflation, because it is designed so that only a limited number of Bitcoins will ever be created.
- It is a global currency and, like the Internet, national borders are pretty much irrelevant in the Bitcoin world.
- Because it is based on the best currently-known cryptography, it cannot be counterfeited.
I'm already putting my Bitcoins where my mouth is, and have created a simple little website to get some experience with handling Bitcoins. The Bitcoin Faucet will give you 5 Bitcoins to play with.
Maybe I am crazy. What percentage of crazy people think they're sane?