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News Link • Bitcoin

SATOSHI'S REVOLUTION: How The Creator Of Bitcoin May Have Stumbled Onto Something...

•, Rob Wile
We gave our Person of the Year award for 2013 to Satoshi Nakamoto, the pseudonymous creator of Bitcoin. We know some of you laughed. 

If you did, you may want to read on. It's becoming increasingly clear that Satoshi's creation has the potential to change how much of commerce itself works, and for reasons not even many Bitcoin fans realize.

By many accounts, Satoshi came up with a real-world solution to a longstanding computer science paradox known as the double-spend problem, or the Byzantine General's problem (the professor who named it explains why he did so here). The challenge is how to send and receive money online without the need for a trusted third party, such as PayPal, ensuring that the same digital credit standing in for the amount being exchanged isn't being spent twice.

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