Bitcoin, the digital currency

(1) Imagine that there is a currency which is accepted throughout the world, stable, secure, without any governmental control, that enables you to receive and pay anonymously. Bitcoin is a new form of money which was created by Satoshi Nacamoto during the global financial crisis in 2009(2). Bitcoin is an electronic currency which is used on the internet world. It is not only a way to pay, but also it works as a real currency with the advantage that is not tied to any financial institutions like central banks or being controlled by lead countries. Its value depends on the offer and the demand. How does it work? The users install a file with internet connection where they can trade peer to peer. The accounts are anonymous, or under a nickname, however to avoid a double payment with the same coin each one has its own code. The transactions are public and under users control and surveillance. The impact It is important to say that Bitcoin, during November 2012, rated US$10, but now they are changing hands above US$90. This quick and enormous price increase has many people crying bubble or even some of them are thinking about if this digital currency could be an alternative for the American Dollar and Euro, both of them under the international financial system, other than Bitcoin.

However, prices can rise much higher and bubbles last longer that people can think. The true is that it is a new currency, so there is too much fluctuation in its trading nowadays. As soon as, Bitcoin matures we will either observe its power versus dominant currencies or observe its fall as other electronic currencies did such as Liberty Dollar, eGold or Goldmoney. By Jos Fernando Castillo Matas. References:
(1)Russia Today. (02 de April de 2013). rt.com. Retrivedl 02 de April de 2013, from bitcoin.org: http://actualidad.rt.com/economia/view/90502-divisa-digital-bitcoin-fracaso-eurodolares

(2)Russia Today. (2013, April 02). Challenging the dollar: Bitcoin total value tops $1 billion. Retrieved April 02, 2013, from rt.com: http://rt.com/news/bitcoin-challenge-dollarcurrency-121/

El economista.es. (2013, 03 24). El economista.es. Retrieved April 02, 2013, from http://www.eleconomista.es/divisas/noticias/4698787/03/13/El-auge-de-Bitcoin-Unaamenaza-real-para-el-euro-y-el-dolar.html#cxrecs_s

ABC.es. (2013, April 02). ABC.es. Retrieved April 02, 2013, from http://www.abc.es/tecnologia/informatica-software/20130302/abci-bitcoin-monedadinero-internet-201302280757.html