Aliases or discrete symbols were used to represent information long time back, but this still has limitless possibilities. How far we can go with this cryptic representation of information is left to us and to our imagination. But we won’t be wrong in saying that the entire world is currently governed by information called currency/money. In fact big governments with all their might and power go week on their knees when they don’t have it. Burning a Rs. 100 (USD/GBP/EURO/INR) note will not heat even half a glass of water and yet it commands so much of value.
Definitely USD 100 (USD/GBP/EURO/INR) note has a lot more value, even though it has no brain of its own, because the most intelligent species on our planet have always trusted only lifeless things like stones and now paper notes and probably in future only numbers. It seems we all are looking for value in stability and trust, but life defines chaos and change.
A bit on its own has no value but yet bits are mined today and value of mining a single bit is around USD 6000 few months back it was USD 1000 and the funny part is unlike our paper currency, we can’t even see the burning beauty if we decide to choose so. Only our stomachs would burn when we get the news that a bit bank has filed for bankruptcy and I am not kidding, it’s already a reality.
Currency has transformed lots of things, probably it could be said that birth of a bit was partly due to currency and soon bits could consume the currency. Technology always feeds on itself to move forward and bits will soon feed on currency. Currency got its value because we could trust our governments to keep the currency reasonably stable and a bit would gain in value as long as the mathematical equation which governs the crypto currency keeps its equilibrium.