Purpose of this Blog

I am known on twitter as @Datavetaren trying to comment and analyze things related to bitcoin. Unfortunately, the space on twitter is sometimes rather limiting for elaborating thoughts and comments on what is happening, thus the reason for starting this blog.

For my international friends you'll discover that there's also a Swedish section (yes, I'm Swedish myself), but this is a separate blog which discusses bitcoin topics relevant to my home country. These articles will not be translated for a bigger audience, but if you're still curious you can always feed them through Google translate.

As you probably noticed bitcoin is a rather volatile currency. There are two main reasons for this:

  • It is a young currency with limited circulation.
  • The rules that apply are not settled which makes the market unsecure. A small change of rules can have large impact on how (and even if) bitcoin can be used.

It is my firm conviction that the pro outweighs the con of bitcoin. Of course there are problems with money laundering, criminal activity and other illicit behavior, but this is also true for "normal" currencies as well. Bitcoin however opens completely new possibilities that regular currencies will never be able to compete on. For example,

  • Internet micropayment: Charge fractions of a dollar for news articles/images/videos.
  • Almost free transactions for remote workers to their families (today they pay 10 percent (!) in fees).
  • Give free banking for the unbanked (read Africa).
  • Lower costs for payments between merchants and customers.
  • Making it easier for banks to transact between themselves.
  • Providing an open and free infrastructure for financial services.
  • New innovative financial instruments on top of the bitcoin protocol.

For those who like bitcoin and want a positive outlook on this revolutionizing currency I hope that I can contribute with my personal analyses and views on what's currently happening in this space.

I have no doubt that bitcoin is still in its infancy, like Internet itself was back in 1994. At that time www and email addresses were considered esoteric. Soon enough bitcoin will go through the same transition and when world adoption is reached many will ask why they couldn't see this coming. Or perhaps not. Let's see.

Datavetaren