Thailand recently made financial headlines by reportedly becoming the first country to ban the use of bitcoins. If you are wondering, "What is a bitcoin and why should I care?" you're not alone (but you are probably over 30).
As the latest evolution in financial technology, bitcoin is a peer-to-peer electronic "virtual" currency that is created and transferred independent of any central authority, ie central banks. Bitcoin was introduced in 2008 by a group of still-anonymous developers operating under a pseudonym, as an e-commerce alternative to credit cards and PayPal.
It is now used for online purchases and is slowly gaining popularity as a form of payment outside of the wired world for everything from dry cleaning to pizza delivery. Members of the Israeli Bar Association even accept bitcoin as payment for legal fees.
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