Local Startups See the Benefit of Bitcoin — Baltimore magazine
A few years ago, no one but the l33test haxors knew what Bitcoin was. Those folks are laughing all the way to the bank now, as the price of the digital currency soared from about $13 to $1000 last year. It seems that everyone — or at least drug dealers, Russian mafiosi, and computer nerds — was interested in a kind of untraceable money that allowed for anonymous transactions and didn’t deal with central banks. And now a group of Johns Hopkins researchers are working on developing their own version.
You’ve heard of Bitcoins, yes? They’re the digital currency with the wildly varying exchange rate (on January 5 of last year, 1 Bitcoin was worth $13.36; by late November, one Bitcoin went for $1124.76). I’ve never been quite clear on what exactly you’re supposed to do with your Bitcoins (assuming you can mine some), other than hoard them — but if you’re lucky enough to have a stockpile, you now have one real-world way to spend your digital money: paying for your bar tab at Bad Decisions in Fells Point.