29 Aug '13, 4pm

Bitcoin: Ignore at Your Own Peril

Blog: Bitcoin: Ignore at Your Own Peril August 2013 Send to a Friend | Request Reprint | Printable View | Comments | | By John MacAllister, Dorado Industries Thirty years ago, a California gasoline retailer revolutionized the payments industry by introducing a plan to allow fuel purchases with ATM cards. Bankers hated it; consumers loved it, and today PIN debit is an integral thread in the payments fabric. Fifteen years ago, cybercurrencies, such as CyberCash, Beenz and Flooz sprouted, wilted and died, victims of (a) the dot-com bubble burst and (b) fatal hubris. All is quiet until 2009 when a cloak-and-dagger developer using the handle “Satoshi Nakamoto” writes the core algorithms for Bitcoin, kicks off the first Bitcoin server and open-sources the code. Unlike the early attempts to circumvent traditional currency, Bitcoin adherents don’t appear to be in the game to reap ...

Full article: http://www.paybefore.com/aboutus/default.aspx?id=32336

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