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Bitcoin, the City traders' anarchic new toy

From reuters.com

Financial traders have a new toy: Bitcoin, a digital currency variously dismissed as a Ponzi scheme or lauded as the greatest invention since the Internet. Unlike conventional fiat money and other digital currencies, Bitcoin runs through a peer-to-peer network, independent of central control. Bitcoins are currently worth $4.88 each on online currency exchanges, where they can be bought and sold for about 15 world currencies. Users - an odd assortment of uber-geeks, anarchists, libertarians, scammers and forex traders - sent about $4.3 million worth to each other in the last 24 hours. Banking and payment expert Simon ... (full story)

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