Open Source Money is Eating the Financial World

by Ry Walker

Have you heard these quotes?

"Software is eating the world" - Marc Andreesen


"Open source is eating the software world" - Michael Skok

The effects of the open source movement has no bounds, and it's driving innovation to an ever-increasing pace. Let me add a quote to the "is eating" list:

"Open source money is eating the financial world." - me

It's still very early, and most haven't noticed the tiny nibbles. But it's only the beginning.

Bitcoin is:

  • decentralized — there are no single points of failure.
  • open-source — check it out, all the code is right here.
  • antifragile — it benefits from randomness and gains from disorder. Every problem an exchange has, every attack, is making the system stronger and more resilient.
  • real — not subject to monetary policy whims and manipulations of governments.
  • global — and it's the cheapest way to move money around the globe.
  • fair — through a process called mining (which is really just transaction verification), new coins are distributed to anyone who points their computing power to the work queue.

The game is still in the first inning.

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