A secretive drug bazar delivering hard core highs to American school kids is bad enough. But when its operating using the untraceable digital currency known as bitcoin, politicians have to take action. Read More
Colorado-based developer Nick Carlson came to our attention when he was mentioned in a splashy story about the Bitcoin project, an initiative in which savvy techies trade for goods and services using an unregulated, standardized digital currency. Mr. Carlson has been curious about Bitcoins since he read about them in April and realized that “the mathematical principles behind the currency were sound.” He bought some Bitcoins through a private transaction on Reddit.
Barring legal intervention, Mr. Carlson told Betabeat, Bitcoins are a viable currency. But most people are not using them for commerce, he said–they’re trading them to make money. So five days ago he decided to do an experiment to see how Bitcoin stands up to the dollar. Read More