Day 2

So I am here and made it to day 2! That's a success.

I bought my first Bitcoin today. I started reading about cryptocurrencies and the whole concept of Blockchain, that comes with it, sounds very interesting to me. People say, it's the new revolution of the internet and could change it from a web of information to a web of value.

It took some time until I understood what that means, In general it's trying to get away from banks and central institutions managing currencies and value towards a distributed proxy solution where no banks or third parties are necessary anymore for exchanging values.

It's really mindblowing how complicated it is to transfer money across countries. Or even just from one bank account to another one. We have to trust governments and banks to handle everything correctly and it needs a lot of infrastructure and woman power to keep the system going. I really don't think it's up to date anymore.

And money is something super abstract too, if you really think about it. You just have to trust that everybody will accept your paper, because some government says, you have to take it and you have to trust that also tomorrow everybody will accept your paper. It's really an interesting concept.

One last note on how I got my bitcoin. I used a service called "Kraken". It's something like a cryptocurrency trading platform. I don't know how the exact term for that is. But it's really simple, maybe too simple. You can easily buy and sell currency and exchange it to Euro or US Dollar. I will watch how it develops and let you know!