In 2009 the cryptocurrency Bitcoin was released to the public as open-source software. It was the first decentralized digital currency that works without a central repository or single administrator. The network is peer-to-peer and transactions between users take place through the use of cryptography, without an intermediary. Over the past few weeks Bitcoin and many other cryptocurrencies have seen increased public interest, with one Bitcoin currently worth $11,531USD as of this writing (6:10 pm, EST).
Have you used cryptocurrencies before? What do you think of cryptocurrencies like Bitcoin? Are they useful to you? If so, is there something that makes it relevant to your anarchist practice (pros/cons)? In broader terms, how do we answer the problem of capital? How have other anarchists thinkers addressed similar ideas that you find noteworthy?
Do we need money to have a functioning society? And if we do, does cryptocurrency solve the problem that currency creates in society? What advantages and disadvantages does cryptocurrency provide over using cash? What kind of privacy do cryptocurrencies offer over other forms of currency for you?