First digital money: Bitcoin

Posted by Cheryl Perkins on January 5, 2013

bitHave you heard of Bitcoin? It is a new kind of digital money that is being proclaimed as the first decentralized electronic currency in the world.  Like the Internet, it’s not controlled by one organization or government entity. The open source project is said to be used by more than 100,000 people around the world who have been trading hundreds of thousands of dollars worth of bitcoin daily.  It’s digital currency that does not use a middle man or credit card companies.

Bitcoin is as free as email or Skype, and allows you to send money to anyone online.

The Original Bitcoin Client is free, open-source software. You can download an online “Wallet” automatically, at Coinbase, InstaWallet or MyWallet.

Here is a video explaining how it works:

Will Bitcoin be the next big opportunity for innovation? What do you think?

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