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Bitcoin
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The latest news on Bitcoin from Redcert
I virtually need a new currency, quick!
The BitCoin conversation is still going on. The hacking is still going on. Disgruntled slavic businessmen are looking glum around Paphos after dark and rather than the Cypriot banking crisis being the cause, perhaps it's people talking about the Cypriot crisis that's got depositors looking at new, novel and accessible ways to keep their money safe
Ka-chinggg : virtual currency is everywhere, suddenly?
Such a move shouldn't effect the promise that virtual currency holds. For instance, a simple example, virtual currency can help eliminate currency considerations and empower local retailers to sell to cross border buyers. Twenty percent shifts in Sterling or Dollar or Euro become irrelevant to one-currency-online shoppers. Global web, global commerce. But there will genuinely be those who seek to subvert and exploit the system. Admittedly, most financial crime we've seen in the last five years has been committed by men in good suits, but this isn't really about financial crime, it's about preventing the hiding of money acquired as a result of other crime.
Bitcoin, and the wallet wars.
Bitcoin was an experiment. Conceived as one of the first crypto-currencies, described first in 1998 by Wei Dai on the cypherpunks mailing list. Bitcoin, introduced in 2009, is designed around the idea of using cryptography to control the creation and transfer of money, rather than relying on central authorities. So in the Bitcoin world there is no central authority.
