as the guest speakers for the 216th meeting of the Karl Hess Club, to convene
on June 18, 2012.
Matthew DeBord on "Bitcoin Digital Currency: A Decentralized Online Money System."
Bitcoin is an experimental digital currency, created in 2009 by Satoshi Nakamoto, that enables instant payments to anyone, anywhere in the world. Bitcoin uses peer-to-peer technology to operate with no central authority. Managing transactions and issuing money are carried out collectively by the network.
Bitcoin is also the name of the open source software that enables the use of this currency.
Matthew DeBord will discuss Bitcoin's concept, history, and political ramifications in a world where economies are largely managed by central authority regimes, and both hard (commodities) and soft (fiat) currencies are subject to manipulation and devaluation.
DeBord will also discuss the challenges which have confronted this new form of money, including the recent theft by electronic hacking of millions of coins from a large "wallet."
Is Bitcoin really useful or worth anything? What's in it for you? How can you get it? Can it change everything?
Come to our 18th Anniversary meeting and find out!
About the Speaker:
Matthew DeBord hosts the DeBord Report on 89.3 KPCC-FM and blogs about economics at KPCC.org. YouTube carries one of his public appearances, below: