Bitcoin, the new digital currency explained.
http://www.bitcoin.org/
Bitcoin P2P Virtual Currency
Bitcoin is a peer-to-peer digital currency. Peer-to-peer (P2P) means that there is no central authority to issue new money or keep track of transactions. Instead, these tasks are managed collectively by the nodes of the network. Advantages:
* Bitcoins can be sent easily through the Internet, without having to trust middlemen.
* Transactions are designed to be computationally prohibitive to reverse.
* Be safe from instability caused by fractional reserve banking and central banks. The limited inflation of the Bitcoin system’s money supply is distributed evenly (by CPU power) throughout the network, not monopolized by banks.
The bitcoin currency differs from national currencies because there is not central bank or other central controlling interest. It is entirely decentralized. Bitcoins are transferred between individuals or businesses by specifying their Bitcoin address. Transactions travel through the peer-to-peer network created by those who are running the Bitcoin client software.
The decision to accept bitcoin donations by the EFF is appreciated by the bitcoin community.
This is EFF address to send your donations to
1MCwBbhNGp5hRm5rC1Aims2YFRe2SXPYKt
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