08 Oct '12, 2pm

3 Years in, Bitcoin Digital Money Gains Momentum: Scientific American #bitcoin

The large exchanges that remain have responded to the crises by collecting personal details from their clients as a defense, a practice that many in the community say undermines the whole point of having an anonymous currency. Frank Braun, an IT security consultant and self-described privacy extremist, confronted the problem by urging people at the conference to open new over-the-counter exchanges. But it may also be possible to build an exchange that is as anonymous and decentralized as the Bitcoin network itself. In his talk in London, Mike Hearn, another core Bitcoin developer, proposed a peer-to-peer currency exchange that would link trusted buyers and sellers online and then leave them to sort out payment details amongst themselves. The system would require no central repository of money, eliminating the target for hackers. Nor would the system collect private details...

Full article: https://www.scientificamerican.com/article.cfm?id=3-years...

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