20 Jan '13, 12pm

Interesting! Ripple Credit System Could Help or Harm Bitcoin via @IEEESpectrum

14 January 2013—This Christmas season I bought my very first bitcoins. The idea was to give them as gifts to my family, thus setting the Pecks out on the adventure of figuring out how Bitcoin —the four-year-old decentralized, stateless cryptocurrency —works and why it might be important. I enjoy giving homework as a present. The adventure, however, turned out to be my own, as I first had to find a way to get some bitcoins. Apparently there are a few ways: You can join the network that creates bitcoins and mint them at a slow, unpredictable pace. You can accept them as payment. You can buy them from a centralized exchange. Or you can find a random stranger online who wants to sell them and meet up with him on the street. I chose the latter, an option that landed me in a coffee shop three days before Christmas, handing over US $100 cash to a man I had never met, whose father...

Full article: http://spectrum.ieee.org/telecom/internet/ripple-credit-s...

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Ripple Credit System Could Help or Harm Bitcoin

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Ripple, a Peer-to-Peer Financing Network, Could Make Bitcoin Great - Motherboard (blog) #bitcoin

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