Could Bitcoin Be More Than A Digital Currency?

psfk.com 06 Mar '13, 12pm

Could Bitcoin Be More Than A Digital Currency?

This article titled “Bitcoin: more than just the currency of digital vice” was written by Arwa Mahdawi, for guardian.co.uk on Monday 4th March 2013 16.54 UTC Dale doesn’t exactly look like an international crypto-criminal. He’s soft-spoken, baby-faced, and a senior at an Ivy League college. But every couple of weeks the political science major logs onto the Silk Road, an online black market that has been described as an “amazon.com of drugs” to buy wholesale quantities of “molly” (also known as MDMA, a particularly “pure” form of ecstasy), LSD and magic mushrooms. Some of these will be for his personal use, and the rest he’ll flog to less tech-savvy classmates at a mark-up of up to 300%. On a good weekend, he can net a profit of around $2,500. It’s a more lucrative sideline than waiting tables. While Dale prices his party favours in dollars, he pays for them the only way y...

Full article: http://www.psfk.com/2013/03/bitcoin-digital-currency.html

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@chrisdancy » 23 Mar '13, 12pm
Take time to understand Silk Road and bitcoin. Take time now. [link]
@CryptoCurrent » 13 Mar '13, 11am
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@gaitha » 11 Mar '13, 3pm
Bitcoin: more than just the currency of digital vice. [link]
@ElectoralCllege » 07 Mar '13, 3pm
Interesting article on Bitcoin and the future of digital currency: [link] #politics
@HKingaby » 07 Mar '13, 1pm
The future of currency: dark, underground and untraceable: [link]
@zilinliang » 07 Mar '13, 12pm
Bitcoin as a digital currency growing in prominence, esp in the black market [link] #NewhouseSM4
@forexpro13 » 07 Mar '13, 2am
RT @SorayaHaas: I find Bitcoin and the economy it enables fascinating. Recently, 'it more than doubled its value against the dollar.' [link]
@SorayaHaas » 07 Mar '13, 2am
I find Bitcoin and the economy it enables fascinating. Recently, 'it more than doubled its value against the dollar.' [link]
@theindiefeed » 06 Mar '13, 10pm
RT @gleonhard good piece: Could Bitcoin Be More Than A Digital Currency? - PSFK [link]
@ideafestival » 06 Mar '13, 7pm
Bitcoin "increasingly winning a place on the net as a legit currency." Could it transcend its digital roots? @PSFK [link]
@JasonHeller » 06 Mar '13, 6pm
Is Bitcoin indicative of a growing opportunity for digital currency? [link]
@textually » 06 Mar '13, 6pm
Bitcoin, the digital coin, is gaining ground as a legitimate currency, trading at $32 a share last week. [link]
@mrdiggles » 06 Mar '13, 5pm
I love bitcoins. Wish I would have held on to my last batch, would have made 10x. [link]
@Guidedco » 06 Mar '13, 5pm
[link] good read
@davidmadreis » 06 Mar '13, 5pm
Money, Iran, and the underground new hipster currency. [link]
@ciaranf » 06 Mar '13, 4pm
This interesting piece about Bitcoin asks whether it could become more than a digital currency [link]
@em_nemtin » 06 Mar '13, 3pm
Bitcoin's value has spiked 130% just this year. Quick, time to get myself some gold... I mean bitcoin. [link]
@TargetCastTalks » 06 Mar '13, 3pm
Bitcoins fuels a shadow economy - but will they ever surpass the $? [link]
@getsouped » 06 Mar '13, 2pm
Goal set. [link]
@gleonhard » 06 Mar '13, 2pm
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PSFK said Could Bitcoin Be More Than A Digital Currency? [link]
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