CES 2012: Bit-Pay Deposit Card demonstration
BitCoins are a highly interesting topic, from a business perspective and leave room for some questions and assumptions. For now I just wanted to post some links.
Q. What is Bitcoin?
A. Bitcoin is a peer-to-peer currency. Peer-to-peer means that no central authority issues new money or tracks transactions. These tasks are managed collectively by the network.
Q. How does Bitcoin work?
A. Bitcoin utilises public-key cryptography. A coin contains the owner’s public key. When a coin is transferred from user A to user B, A adds B’s public key to the coin, and the coin is signed using A’s private key. B now owns the coin and can transfer it further. A is prevented from transferring the already spent coin to other users because a public list of all previous transactions is collectively maintained by the network. Before each transaction the coin’s validity will be checked.
Here is where you can buy and sell: https://mtgox.com/
Here is more on the “Mega-Hack” Inside the Mega-Hack of Bitcoin: the Full Story
A list of places that accept bitcoins: http://www.bitcoindir.com/
Here is an interesting discussion on the legal side http://bitcoinweekly.com/articles
What do you think? Leave a comment to let me know your opinion. Are you going to make your own BitCoins? Are you thinking about accepting them for your services and products?