Crazy currency: The more I report on Bitcoin, the weirder it gets

Cornering the Bitcoin market may be easier than cornering orange juice futures.
Paramount Pictures / Aurich Lawson

The first time I ever heard the word “Bitcoin” was back in 2011, when I read about The Silk Road (like a lot of people) on Gawker. The Amazon of illegal drugs? Powered by Tor and this weird “cryptocurrency?” Huh?

At the time, I was living in Germany working for Deutsche Welle (Germany’s international public radio broadcaster). I barely understood how it worked but got a bit of a taste when reporting on it. Solving cryptographic hashes? The blockchain? I was bombarded with a lot of bizarre terminology and still a little unsure. Luckily, I later learned more after listening to NPR’s Planet Money explanation in August 2011.

But 2013 was a banner year for everyone’s favorite digital currency, and after about 10 months of following it closely, I can definitively say two things:

Read 28 remaining paragraphs | Comments

via Ars Technica


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