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News Link • Bitcoin

Marginally Useful

 Bitcoin, a purely digital currency, is backed by no commodity and governed by no central bank, but it exists because a small number of humans have chosen to believe in its legitimacy.

Its pseudonymous creator (or, more likely, creators) “Satoshi Nakamoto” willed it into existence in 2009, not only describing how the so-called cryptocurrency would work but shipping a full working implementation. The original software had all the hallmarks of a gag or hack: a great, metastasizing practical joke played by clever cyberlibertarian coders upon all who put their faith in fiat (that is, government-backed) currencies.

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