After a spectacular crash, #Bitcoin, an online currency, has made a surprising comeback

Bitcoin: Monetarists Anonymous

economist.com 03 Oct '12, 2am

After a spectacular crash, #Bitcoin, an online currency, has made a surprising comeback

“GIVE me control of a nation’s money supply, and I care not who makes its laws.” So said Mayer Amschel Rothschild, founder of the Rothschild banking dynasty. What would he make of Bitcoin, an online currency with no issuing authority whatsoever? Despite being written off following a speculative bubble and crash last year, the online cryptocurrency is still going strong, not least thanks to its ability to circumnavigate the law. Bitcoin was devised in 2009 by a mysterious figure known as Satoshi Nakomoto. It is the world’s first, and so far only, decentralised online currency. Instead of a central bank, Bitcoins can be issued by anyone with a powerful personal computer: it mints them by solving extremely difficult mathematical problems. The problems are automatically made harder to ensure that the overall supply of Bitcoins cannot grow too fast. They are traded online, with...

Full article: http://www.economist.com/node/21563752?fsrc=scn/tw/te/pe/...

Tweets

@spelton » 04 Oct '12, 4pm
Bitcoin: Monetarists Anonymous | The Economist [link] (via Instapaper)
@tellyworth » 04 Oct '12, 2am
RT @danielbachhuber: RT @danielbachhuber: Bitcoin: Monetarists Anonymous [link]
@topotronic » 03 Oct '12, 6pm
RT @jaimenm: RT @jaimenm: #Bitcoin lo q no te destruye te fortalece. Ya se empieza a entender bien... The Economist [link]
@weary » 03 Oct '12, 6pm
RT @JeanLoupRichet: RT @JeanLoupRichet: Bitcoin is still going strong despite the crash of last year [link]
@GRiccord » 03 Oct '12, 6pm
Buena idea esta de la bitcoin, la moneda independiente, ahora solo hay q hacer una pegged al oro aunq sea fraccional [link]
@mondatoportal » 03 Oct '12, 5pm
After a crash, Bitcoin makes a spectacular recovery: [link] via @TheEconomist #Bitcoin #digitalpayments
@ervinjuresa » 03 Oct '12, 3pm
RT @jboitnott: After a spectacular crash, #Bitcoin makes a surprising comeback [link] @Bitcoin
@JeanLoupRichet » 03 Oct '12, 3pm
Bitcoin is still going strong despite the crash of last year [link]
@rasoolr » 03 Oct '12, 2pm
The bitcoin phenomenon is fascinating. Murky beginnings, illicit and practical uses. #goodread [link]
@nejc_kodric » 03 Oct '12, 1pm
RT @Bitstamp: RT @Bitstamp: #Bitcoin Monetarists Anonymous [link]
@BrianMMcClain » 03 Oct '12, 1pm
“@alexwilliams: Bitcoin makes comeback [link]” < Very exciting, but cost of mining > return for me now :(/cc @AlexanderJKlein
@MarkKropf » 03 Oct '12, 1pm
“@alexwilliams: Bitcoin makes comeback [link]” /cc @BrianMMcClain Congrats!
@DX_Antonio » 03 Oct '12, 1pm
Bitcoins are VERY interesting. "@newsycombinator: After a spectacular crash, Bitcoin makes a surprising comeback [link]"
@unfortunatalie » 03 Oct '12, 12pm
RT @LudditeWebDev: RT @LudditeWebDev: The Economist on Bitcoin, the purely online currency, which has made a comeback. [link]
@LudditeWebDev » 03 Oct '12, 12pm
The Economist on Bitcoin, the purely online currency, which has made a comeback. [link]
@b3nwarren » 03 Oct '12, 11am
RT @volansamanda @TheEconomist: After a spectacular crash, #Bitcoin, an online currency, has made a surprising comeback [link]
@cherkoff » 03 Oct '12, 9am
'Bitcoin transactions on Silk Road are now worth $1.9m per month.' [link]
@Pseconsulting » 03 Oct '12, 9am
Bitcoin is not dead [link] @TheEconomist
@adv4nced » 03 Oct '12, 9am
#bitcoin coming back ;) #btc [link]
@EmergentEcon » 03 Oct '12, 9am
The seeds of a numismatic paradigm shift? MT @newsycombinator: After a spectacular crash, Bitcoin makes a surprising [link]
@cdreue » 03 Oct '12, 8am
Erg interessant: @TheEconomist: After a spectacular crash, #Bitcoin, an online currency, has made a surprising comeback [link]
@abechoi » 03 Oct '12, 8am
Bitcoin - Monetarists Anonymous [link]
@volansamanda » 03 Oct '12, 8am
Fascinating. RT @TheEconomist: After a spectacular crash, #Bitcoin, an online currency, has made a surprising comeback [link]
@ekwiti » 03 Oct '12, 7am
RT @Tedesign: RT @Tedesign: system resilience “@newsycombinator: After a spectacular crash, Bitcoin makes a surprising comeback [link]”
@s0mnath » 03 Oct '12, 7am
Very interesting! #Bitcoin, an online #currency, makes a comeback & valued at $2, [link] #economist
@pg1 » 03 Oct '12, 7am
I still feel that bitcoin will be the solution for micropayment: [link]
@joshuadarnell » 03 Oct '12, 7am
@psftc @darnjo also advocates bitcoin. [link]
@jorgebarba » 03 Oct '12, 7am
RT @nickdemey: RT @nickdemey: Hype cycle in practice: #bitcoin [link] via the economist
@wieshka » 03 Oct '12, 7am
Atdzimst? RT @TheEconomist: After a spectacular crash, #Bitcoin, an online currency, has made a surprising comeback [link]
@Tedesign » 03 Oct '12, 7am
system resilience “@newsycombinator: After a spectacular crash, Bitcoin makes a surprising comeback [link]”
@MogulAzam » 03 Oct '12, 7am
RT @newsycombinator: After a spectacular crash, Bitcoin makes a surprising comeback [link]
@BenRegenspan » 03 Oct '12, 6am
Finnish dentist who takes Bitcoin. [link]
@tek_news » 03 Oct '12, 6am
HNews: After a spectacular crash, Bitcoin makes a surprising comeback [link]
@nickdemey » 03 Oct '12, 6am
Hype cycle in practice: #bitcoin [link] via the economist
@hiraedd » 03 Oct '12, 6am
Bitcoin comeback [link]
@HackerTheArtist » 03 Oct '12, 6am
From HN: After a spectacular crash, Bitcoin makes a surprising comeback [link]
@msalahat » 03 Oct '12, 6am
After a spectacular crash, Bitcoin makes a surprising comeback [link] #tech #startups
@loudmouthman » 03 Oct '12, 6am
I keep telling people that Bitcoin will be important ; [link] as usual they keep suggesting its not as relevant . Watch Coin!
@dvydrin » 03 Oct '12, 6am
The Economist написал про #Bitcoin: [link]
@FintechBot » 03 Oct '12, 6am
After a spectacular crash, Bitcoin makes a surprising comeback [link] by @hnycombinator #FinTech
@HNTweets » 03 Oct '12, 6am
After a spectacular crash, Bitcoin makes a surprising comeback: [link] Comments: [link]
@rockisstani » 03 Oct '12, 5am
Online currency makes a come back while real money devalued terribly (IR Rials) @TheEconomist: [link] #bitcoin
@mrdavidbacon » 03 Oct '12, 4am
RT @harikunzru: RT @harikunzru: #Bitcoin LIVES! [link]
@harikunzru » 03 Oct '12, 4am
#Bitcoin LIVES! [link]
@HellCatLeMaudit » 03 Oct '12, 4am
The intriguing #Bitcoin: A currency under no laws and no central bank. | #fb #finance #economics #money | [link]
@jessi_sometimes » 03 Oct '12, 3am
@planetmoney the dark bitcoin rises [link]
@lowe_brad » 03 Oct '12, 3am
@is4tomj - “@TheEconomist: After a spectacular crash, #Bitcoin, an online currency, has made a surprising comeback [link]”
@jaimenm » 03 Oct '12, 3am
#Bitcoin lo q no te destruye te fortalece. Ya se empieza a entender bien... The Economist [link]
@danielfogg » 03 Oct '12, 3am
After a spectacular crash, #Bitcoin, an online currency, has made a surprising comeback [link] via @TheEconomist
@the_bell_curve » 03 Oct '12, 3am
An interesting read “@TheEconomist: After a spectacular crash, #Bitcoin, an online currency, has made a comeback [link]”