18 Apr '13, 4pm

Trending: #Bitcoin, a digital currency, may crash but leave a lasting legacy

IN 1999 an 18-year-old called Shawn Fanning changed the music industry for ever. He developed a service, Napster, that allowed individuals to swap music files with one another, instead of buying pricey compact discs from record labels. Lawsuits followed and in July 2001 Napster was shut down. But the idea lives on, in the form of BitTorrent and other peer-to-peer filesharers; the Napster brand is still used by a legal music-downloading service. The story of Napster helps to explain the excitement about Bitcoin, a digital currency, that is based on similar technology. In January a unit of Bitcoin cost around $15 (Bitcoins can be broken down to eight decimal places for small transactions). By the time The Economist went to press on April 11th, it had settled at $179, taking the value of all Bitcoins in circulation to $2 billion. Bitcoin has become one of the world’s hottest ...

Full article: http://www.economist.com/news/finance-and-economics/21576...

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#Bitcoin, a digital currency, may crash but lea...

economist.com 16 Apr '13, 7am

IN 1999 an 18-year-old called Shawn Fanning changed the music industry for ever. He developed a service, Napster, that all...

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buzz.money.cnn.com 18 Apr '13, 10am

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Watch this!! @FlipFlopyy

Watch this!! @FlipFlopyy

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theregister.co.uk 18 Apr '13, 12pm

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buzz.money.cnn.com 18 Apr '13, 11am

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online.wsj.com 18 Apr '13, 10am

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bloomberg.com 12 Apr '13, 12pm

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independent.co.uk 12 Apr '13, 7pm

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businessinsider.com 13 Apr '13, 10pm

IN 1999 an 18-year-old called Shawn Fanning changed the music industry for ever. He developed a service, Napster, that all...

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online.wsj.com 17 Apr '13, 2pm

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usatoday.com 13 Apr '13, 4pm

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