bitcoin is a disruptive new crypto-currency based on a decentralized open-source protocol which is gradually gaining popularity. Invented by an unknown creator, bitcoin has recently been the center of a media frenzy with promises of easy money that can be magically created on your computer, tales of lost fortunes, and of alleged mega-criminals who built their drug empires using only their laptop. Looking past the scandals, I will discuss the basics of the protocol, its roots in computer science, and the technical challenges that it faces. In particular, I will try to convince you that regardless of its eventual success or failure, bitcoin is in fact the most daring social and economic experiment of our time.
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