NOTE 2/25/14: Only days after writing this article, bitcoin value went into freefall. The reason is that the Mt. Gox bitcoin exchange (mentioned in this article) has ceased operating and has filed for bankruptcy protection. One news report stated that $165 million in bitcoins that were supposed to be securely kept within the exchange’s cyber vault is unaccounted for.
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If you haven’t heard of Bitcoin, I expect you will be hearing about it in the mainstream media shortly.
Bitcoin is a currency that doesn’t exist. It is a virtual world currency, but is being used to buy items as a form of real world cash. It’s currently accepted in about 1000 brick and mortar businesses throughout the world and about 35,000 online businesses.
Even more recently, it was just announced that two Bitcoin ATM’s are being made available to Bitcoin believers in the U.S. Continue reading →