Bitcoin

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Bitcoin is a decentralized electronic currency system that is utilized through peer-to-peer networking. The network uses electronic signatures and other cryptographic proofs in order to conduct trades. Bitcoin has no centralized bank to make more Bitcoins, so inflation and other devaluing of the currency would seemingly not be plausible. Bitcoin is heavily supported by libertarians as an alternative form of currency against the U.S. Dollar, which, after President Nixon's executive order essentially eliminating the gold standard in 1971, has become less valuable and has less trust put into it. There are several Bitcoin exchanges on the internet, which one could use to exchange currency or something else of value (i.e. gold or silver) and receive Bitcoins, or by letting one's computer's resources be used by a Bitcoin network, and receiving an amount of Bitcoins for that service (essentially "mining" Bitcoin). Several online stores currently accept Bitcoin, and even some real-life outlets accept the currency, such as an Italian restaurant in New York City.

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