Tuesday, August 9, 2011

Bit What? Bitcoin!

In early June 2011 the interweb spruked the Bitcoin "Recent weeks have been exciting for a relatively new kind of currency speculator. In just three weeks, the total value of a unique new digital currency called Bitcoin has jumped four times, to over $40 million" and though the currency was created in 2009, the hype didn't hit until 2011

Bitcoin is not underwritten by a government, but by a clever cryptographic scheme. For now, little can be bought with bitcoins, and the new currency is still a long way from competing with the dollar. But this explainer lays out what Bitcoin is, why it matters, and what needs to happen for it to succeed :: Read the full article »»»»

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