Studio Session II - Patrick Muggill

In studio session today the group was able to make a multitude of connections within the wide area of Bitcoin; from social media and consumer confidence, to transnationalism and the governance of cryptocurrency. A few interesting ties became apparent such as the government's increasing use of bitcoin in research of new voting methods. The irony of governments using a decentralized currency in its democratic election process is very interesting. Another connection was made between consumer confidence and social media. The two areas are inextricably linked as the volatility of bitcoin as a currency is directly tied to the public and their conversation about Bitcoin through social media and elsewhere. Also as social media branches out into cryptocurrencies it will be exciting to watch the market unfold with new players and to see if there is any widespread market over or undervaluation.

Some big names behind Bitcoin, like Satoshi, the founder of Bitcoin, and Marc Andresen, the current steward of Bitcoin, are currently involved with world issues such as civil revolts in Cyprus and the rise of Bitcoin use in illegal markets in Africa and South America. The group hopes to contact one member's sister who is currently working in South America on the rise of cryptocurrency there. I hope to investigate social media and Bitcoin and have found many insightful articles on their interconnection and similar growth models.