22 Apr '15, 4pm

Bitcoin VIP: The Internet Had a Shady Start, Too

Without dealings in the "grey areas" of the global economy , bitcoin might not have grown to be worth the $3 billion it is today, according to Gavin Andresen, the closest thing the digital currency has to a CEO. Andresen, a self-confessed "all-around geek", is chief scientist at the Bitcoin Foundation, a non-profit group he helped set up three years ago to support and promote the digital currency. The original "cryptocurrency", bitcoin is increasingly accepted as payment for goods and services over the Internet. But detractors are concerned about how bitcoin makes it easier for users to make purchases anonymously. Andresen acknowledged it has been used in the United States for online gambling, which was effectively outlawed there until December 2011, with banks barred from transmitting bets. It also played an important role in the function of the Silk Road online marketpla...

Full article: http://www.entrepreneur.com/article/245389

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