30 Mar '13, 12am

#Bitcoin Hits $1 Billion via @IEEESpectrum

Bitcoin , the world's first open source cryptographic currency , which has been on a tear since the beginning of this year, set a new record for itself yesterday afternoon as the price listed on the largest online exchange rose past US $92. With nearly 11 million Bitcoins in circulation*, this sets the total worth of the currency just over one billion dollars. For a bit of perspective, that's how much Facebook spent on its acquisition of Instagram last April. But Bitcoin is not a company. It's a digital currency that runs on a global peer-to-peer network without the backing of a nation or any other central authority. The recent ascent has traditional economists scratching their heads. “It’s something of a mystery that Bitcoin has a positive value at all since it wasn’t launched in the way a new currency is typically launched,” says Lawrence White , an economist who teaches...

Full article: http://spectrum.ieee.org/tech-talk/computing/networks/bit...

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Bitcoin Hits $1 Billion

spectrum.ieee.org 29 Mar '13, 10pm

Bitcoin , the world's first open source cryptographic currency , which has been on a tear since the beginning of this year...

Bitcoin Hits $1 Billion

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techmeme.com 30 Mar '13, 12pm

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theverge.com 30 Mar '13, 6pm

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spectrum.ieee.org 31 Mar '13, 4am

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Bitcoin Is Now a Billion Dollar Industry

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theatlanticwire.com 29 Mar '13, 1am

A tremendous thing happened in the weird world of bitcoin on Thursday. For the first time in the currency's history, the t...