What and why?

Referring to my first post, after the financial crisis in 2008, many people start to question the system of  central bank. Individuals was looking forward to finding a new monetary system which would protect them from suffering from other potential financial crises.

On November 1st in 2008, a person calling himself Statoshi Nakamoto (It might be a nickname.) published a paper in a secret cryptography review group. However, during the historical condition, this paper suggests a new idea on electronic money. At the same time bit coins are coming. In general, bit coins system is getting rid of the restriction of 'third parties'. Subscribers only use software to 'explore money' and make a deal with others in direct way.(see more details here).

In 2008, for instance, the U.S government pump money on wall street and Detroit Automobile company. Simultaneously, FED (Board of Governors of the Federal Reserve System of the United States) launched quantitative easing policy. This is essentially printing a lot of money also leads to a higher prices of gold than ever before. By contrast, bit coins probably do not need to be guaranteed by policy and finance(even someone may bring the economy down).

In words, bit coins are more and more popular in the market during his earlier life.