I know you are going to think I am talking about “funny money,” but I am not. There is actually an Internet currency called Bitcoin. It’s totally digital, no paper, no coins.
Those who use Bitcoin believe it marks a new chapter in the history of money, even though there is no central authority that manages transactions.
Bitcoin has an open source network that controls the value. It’s being used in areas that could not be covered by any previous payment systems.
Bitcoins are just not an investment but are actually being used by Bitcoinstore.com, a retailer of electronics and other goods that did more than $500,000 of business in March. So far this month, Bitcoinstore has sold $142,250 worth of products.
The big surprise is that Cameron and Tyler Winklevoss, the Facebook twins, claim they have become Bitcoin moguls. They say they have one of the single largest portfolios of the digital currency.
Bitcoin users say the digital money is worth $1.3 billion at last count. The Winklevosses say they own nearly 1 percent of that, or some $11 million.
Experts on Bitcoins explain that an unknown programmer created Bitcoin. No one wants to take responsibility until the world sees its potential.
