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Bitcoin - Open Source Virtual Currency Project that Could Become the Gold Standa

Dec 21, 2010, 15:03 (2 Talkback[s])


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[ Thanks to kiterunner for this link. ]

"Bitcoin is an open source peer-to-peer digital currency project. Peer-to-peer (P2P) in this context means that there is no central authority to issue new money or keep track of transactions. Instead, these tasks are managed collectively by the nodes of the network. This is one important open source project that holds a lot promises for the future.

"Bitcoin P2P Virtual Currency - Key Advantages

* Bitcoins can be sent easily through the Internet, without having to trust middlemen.
* Transactions are designed to be irreversible.
* Be safe from instability caused by fractional reserve banking and central banks. Limited inflation of the Bitcoin system's money supply is distributed evenly by CPU power across the network, not monopolized by banks."

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