08 Oct '12, 12pm

3 Years in, Bitcoin Digital Money Gains Momentum

Nowadays Bitcoin adopters are providing some clues about the benefits of a decentralized, anonymous, digital currency. For instance, independent merchants use it to receive online payments directly from customers, WikiLeaks uses it to dodge financial barricades, and drug users use Bitcoin to shop anonymously on the Internet's black market. But not everything works smoothly. The system lacks a quick way for people to trade in their physical cash for Bitcoins. Foreign currency exchanges don't deal in Bitcoins, and finding someone to sell them in person remains a huge challenge. A few of the online exchanges that do exist have lost huge amounts of their customers' Bitcoins to hackers—a combined sum now worth over one million dollars—whereas the more stable ones require users to self-identify in a way that undermines the network's anonymity. And although the number of merchant...

Full article: http://news.yahoo.com/3-years-bitcoin-digital-money-gains...

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3 Years in, Bitcoin Digital Money Gains Momentum

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Nowadays Bitcoin adopters are providing some clues about the benefits of a decentralized, anonymous, digital currency. For...

3 Years in, Bitcoin Digital Money Gains Momentu...

scientificamerican.com 08 Oct '12, 2pm

The large exchanges that remain have responded to the crises by collecting personal details from their clients as a defens...

3 Years in, Bitcoin Digital Money Gains Momentu...

scientificamerican.com 08 Oct '12, 11am

Nowadays Bitcoin adopters are providing some clues about the benefits of a decentralized, anonymous, digital currency. For...

3 Years in, Bitcoin Digital Money Gains Momentu...

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