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Big Government Targets Bitcoin

What’s not to like about Bitcoin, every libertarian’s favorite crypto-currency?

For starters, Bitcoins are as cyberpunk as William Gibson’s wildest dream: a form of monetary exchange invented in 2009 by a mysterious character who called himself “Satoshi Nakamoto” but then disappeared from view after unleashing his virtual currency upon the world. Bitcoins are undeniably cool: marvelously “mined” from the ore of computer processing power and electricity; more ready for prime time than any previous experiment in purely digital money. And Bitcoins, increasingly, are a success. At a Thursday afternoon all-time-high valuation of $72 per Bitcoin, there were around $700 million worth of Bitcoins in circulation. People are using Bitcoins to buy real goods and services, to hedge against European financial calamity, and toscore drugs. That’s money.

h/t Charles WT

Source: Salon. Read full article. (link)

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  • phandaal||

    The comments on this story are excellent. They remind me why I feel no sympathy when these self-righteous choads experience the consqeuences of their actions.

  • An0nB0t||

    B-b-b-but, TAX EVASION!

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