Not So New To Me
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Protestors at Occupy Wall Street's media area coordinate news updates on laptop computers.
<img alt="Illustration: Martin Venezky" src="/magazine/wp-content/images/19-12/mf_bitcoin_f.jpg" title="The story of the virtual currency you can actually spend—if it doesn't get stolen first." width="660" height="595" /> Illustration: Martin Venezky In November 1, 2008, a man named Satoshi Nakamoto posted a research paper to an obscure cryptography listserv describing his design for a new digital currency that he called bitcoin.
Computer scientists say they've identified a fundamental flaw in the Bitcoin electronic currency system that could eventually stunt its development unless developers change the way users are rewarded for their participation.
No, there's not the slightest touch of hyperbole to that headline. Rather, it's the completely accurate, if exceedingly brief, tale of Bitcoin's short life. Far from dead, however, the digital currency continues to hold promise, and its trajectory bears more than a passing glance.