28 Nov '13, 5pm

Digital money: The Bitcoin bubble | The Economist

Excitement about Bitcoin, and concerns about its limitations, have prompted the emergence of many other cryptocurrencies, or altcoins. Litecoin, for example, retains Bitcoin’s limited money supply but offers faster transactions and is intended to prevent a computational arms-race among miners. And whereas Bitcoin was created by a mysterious figure known as Satoshi Nakamoto, who vanished in 2010, Litecoin’s creator, Charles Lee, makes no secret of his identity. Peercoin has no money-supply limit, built-in inflation of 1% and a more energy-efficient mining process, though, as with Bitcoin, its creator is unknown. Anoncoin and Zerocoin, meanwhile, strive for complete anonymity—which Bitcoin lacks. And so on.

Full article: http://www.economist.com/news/leaders/21590901-it-looks-o...

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