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A developer who specializes in the Bitcoin digital currency says he was sent back to China last week after he arrived at Sea-Tac Airport with only $600 in cash and wasn’t able to convince U.S. Customs and Border Patrol agents that he would be able to fund his two-month visit using Bitcoin.
Bitcoin was designed by Satoshi Nakamoto, and the primary client is developed by a bunch of folks at bitcoin.org . Do you care who these people are? In theory, you shouldn’t: all they do is develop an open source client for an open source protocol.
http://bigthink.com/ideas/38488 The same people who brought you Wikileaks are back, and this time, they’ve created a virtual currency called Bitcoin that could destabilize the entire global financial system. Bitcoin is an open-source virtual currency generated by a computer algorithm that is completely beyond the reach of financial intermediaries, central banks and national tax collectors. Bitcoins could be used to purchase anything, at any time, from anyone in the world, in a transaction process that it is almost completely frictionless.
TWiST Episode #140 with Gavin Andresen and Amir Taaki What if–instead of whipping out your VISA card–you could pay just as safely and much more anonymously with bitcoin, a growing open-sourced international currency. Never heard of it? Then it’s a must you watch this episode of TWiST, where Jason talks to Gavin Andresen, the bitcoin technical lead, and Amir Taaki, founder of BitcoinConsultancy.com about exactly what bitcoin is, how you can use it–and why it will be illegal in under a decade.