BitCoin, the Most Dangerous Project Ever?

[Daniel]

The article talks about the untraceable, un-hackable nature of BitCoin. They can't be locked down like PayPal, and the article predicts that governments will start banning them in the next 18 months.

 

[Raptile]

This looks quite interesting, i didn't hear about this before, will see what happens.

Thanks for the news.

 

[KaFo]

WOW, this sounds extremely interesting, thx for the share.

 

[Robin H]

Indeed.. Good read

Edit:
Too bad once the government starts to block it, it's over.
Or is it? :p

 

[kundurocks]

I just don't get it. Whats its use? :?

 

[PerMaFrOsT]

The article talks about the untraceable, un-hackable nature of BitCoin. They can't be locked down like PayPal, and the article predicts that governments will start banning them in the next 18 months.

They wanna create they own currency for transactions right? Do you know when it will launch?

 

[KaFo]

PerMaFrOsT check their website ( http://www.bitcoin.org ), you can already use it :-)

 

[Virtual]

my brain doesn't have enough space to understand about that bitcoin :facepalm:

but thanks for the info anyway

 

[Daniel]

I just don't get it. Whats its use? :?

Simply put, it's a form of digital cash. Its main advantage is that it's a peer-to-peer thing, so there's no central authority (aka PayPal or Visa) to shut it down, or to block payments from anyone to anyone for political purposes. For instance, there's no way to prevent someone from donating to Wikileaks if they want to. Like cash, there are no chargebacks, which is either an advantage or disadvantage depending on your point of view. The cryptology makes it rather secure and prevents people from issuing a double-spend, or "writing a bad check" so to speak.

 

[Sp32]

I think the title is a bit dramatic. I don't see this being a revolutionary thing at all, will have to see how it pans out. I like the idea of it from what I've learnt though, good share.