29 Dec '13, 4am

Bitcoin isn't the only virtual currency you only sort of understand. Meet Dogecoin, Hobo Nickel and other competitors

By now, most people have heard of Bitcoin, the peer-to-peer currency whose value has soared over the past couple of years. But more recently there's been growing press attention to Bitcoin alternatives with silly names like Dogecoin , sexcoin and Hobo Nickels . Is this all a big joke, or should people take some of these Bitcoin competitors seriously? Read on to find out. What's Bitcoin and why does it have so many imitators? Conventional payment systems like PayPal and Visa are centralized. A for-profit company operates the network and ensures that it is secure and reliable. But Bitcoin operates on a different model. Instead of being run by a for-profit company, Bitcoin operates as a peer-to-peer network . Its security is guaranteed by cryptographic algorithms instead of government or corporate managers. One consequence of this design: the Bitcoin network has its own curre...

Full article: http://www.washingtonpost.com/blogs/the-switch/wp/2013/12...

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washingtonpost.com 26 Dec '13, 8pm

By now, most people have heard of Bitcoin, the peer-to-peer currency whose value has soared over the past couple of years....

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Bitcoin Is Good

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abcnews.go.com 27 Dec '13, 11am

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