KB Topic Decentralized Currency

What Is a Decentralized Currency - Bitcoin Market Journal
An incredible amount of resources is dedicated to money in the modern world. Money has a physical and virtual infrastructure. Governments regulate banks, and in return, banks get the protection of law enforcement and economic investment. Central banks control the borrowing rates, keeping a hand on the throttle and brake of how a currency inflates or deflates. Private companies auto-debit bank accounts for bills and direct-deposit paychecks for employees. What would happen if none of this occurred For many digital currencies, that is pretty much the reality. It is easy to forget, but bitcoin is an ongoing experiment in a decentralized currency. Everything about the currency, from its value to enforcement of community protections, is created by and enforced only by those who hold the currency. In other words, it is the purest expression of the free market; the invisible hand decides everything and the only method for staying honest is dependent on the community.

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