Logan Winston, Langone MBA Class of 2016
On March 25 over 110 students packed into KMC 2-60 to hear NYU’s resident BitCoin expert speak about the storied digital currency. The talk reviewed some of the five and half-year history and recent controversy surrounding BitCoin before exploring whether or not BitCoin and other digital currencies actually behave like currencies. Yermack’s answer: a resounding kind-of.
In terms of history, BitCoin was started by Satoshi Nakamoto, a mysterious unnamed individual or group responsible for writing the initial code for the first BitCoin. The currency is created by a distributed network of miners – like server farms – that are solving “hard math problems” and which in turn release new BitCoins into the world.…