Bitcoin - digital currency. Paypal alternative?

needcashplox · Feb 25, 2011

Hey. Few months ago I found fascinating idea of P2P virtual currency called Bitcoin. I think it perfectly fits the sythe market needs.

Bitcoin.org said:
Bitcoin is a peer-to-peer digital currency. Peer-to-peer (P2P) means that there is no central authority to issue new money or keep track of transactions. Instead, these tasks are managed collectively by the nodes of the network. Advantages:

Bitcoins can be sent easily through the Internet, without having to trust middlemen.
Transactions are designed to be computationally prohibitive to reverse.
Be safe from instability caused by fractional reserve banking and central banks. The limited inflation of the Bitcoin systemâ€™s money supply is distributed evenly (by CPU power) throughout the network, not monopolized by banks.

So no chargebacks, no fees, it's anonymous, you can trade with anyone around the world and nobody can block your account.

The only disdvantage is that it is still not very popular, but the Bitcoin community is growing really really fast!

Current exchange rate is $0.95 for 1 BTC (bitcoin). It was $0.05 few months ago so big profit for investors

This is serious open source project. There are many shops/services that accept Bitcoins, like hosting, games, gambling, electronic shops or even law office.

I'm sure some geeks on this forum will be interested in this project. Just go to Bitcoin.org, read more technical details about it, register on forum. You will love this idea

I hope Bitcoin will be more popular soon, I'd love to run RSGP Shop accepting bitcoins