An Intro To Bitcoin: Can A Virtual Currency Work?

techopedia.com 29 Aug '12, 1pm

An Intro To Bitcoin: Can A Virtual Currency Work? - via @techopedia

An Intro To Bitcoin: Can A Virtual Currency Work? By Tara Struyk , August 29, 2012 Takeaway: The major stumbling block for virtual currencies has been security, but this cryptocurrency thinks it has the answer. Source: Flickr/zcopley When the U.S. mortgage market collapsed in 2005, it was sign of more problems to come as many countries in Europe began to suffer from the effects of their governments’ poor money management and over-reliance on debt. Although a financial apocalypse never materialized as some had predicted, one legacy of government debt, inflation and an ongoing recession was a growing mistrust in government-controlled central banks. Enter Bitcoin , a global electronic currency that was introduced in 2009 and is conspicuously populist; its value is dictated by market forces, freeing it from the control of any central banking authority. But despite its many inn...

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