Posts Tagged ‘Bitcoin’
Bitcoin: Fails as a Solution to Double-Spending
A few years ago the world was introduced to Bitcoin; the brainchild of Satoshi Nakamoto; It is not the first crypto currency created, but certainly the most widely held. Bitcoin was built to address a very specific problem, Nakamoto coins it “double-spending.” E-commerce from the very beginning has relied on financial institutions to act…
Read MoreBitcoin as Electronic Currency
Exit the dollar, the euro, etc. Not so fast! Non-governmental currencies have existed before; however, an unregulated virtual currency is something new and different. Bitcoin is a cryptocurrency that was created in 2009 by a computer scientist known only under the pseudonym Sutoshi Nakamoto. Bitcoins are not held in bank accounts but in digital wallets…
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