The Business Of Bitcoin: Entrepreneurs See Opportunities In Alternative Currencies

After some prominent press (and some prominent naysaying), Bitcoin has suffered a bit of a crash, falling from a high in the twenties to about of $3 USD today. Interestingly, however, the intensity with which users, experimenters, and entrepreneurs are still supporting what could best be termed a movement has not waned. The money to be made in this space is in the creation of an intelligent interface for the Bitcoin system. In theory, bitcoin transactions should be completely instantaneous and anonymous. The system records each transaction publicly, ensuring bitcoins can't be spent again and again, but to watch the records would tell you nothing about the people performing them. It's this anonymity that allows for the existence of sites like the Silk Road, an online drug and "alternative products" store featuring everything a 15 year old anarchist or average hesher could want, literally sold out in the open (albeit completely anonymously).

Source: http://feedproxy.google.com/~r/Techcrunch/~3/PWCeKR0MB1E/

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