TL;DR spreading FUD about bitcoin without any knowledge whatsoever. I want my 15 minutes back please

Advantages:
- Overall hashing power is increased, old FPGA accounts will not be a "burden", to the advantage of everyone.
- ASIC early adopters will get 5% bonus increase for my referral / deposit.
- ASIC early adopters will have a faster ROI (speedup due to 15% of my mined BTC going to the sponsor).
- I will get this investment back together with you.

Trendspotter: Digital currency makes for immaterial world

What is money? On first glance (and to non-economists) the question can seem simple. It's the stuff in our wallets: we use it to pay for the things we buy. But think harder and the issue quickly becomes head-spinningly complex. Why do we freely exchange our possessions, our homes, our time for small pieces of paper or metal? How did we come to the agreement that money is valuable? And is that all that money is, in the end: a social agreement?

Recently, money has endured pretty bad press. The 2008 financial crisis may be too complicated for even economists to understand but most people think that a corrupt financial elite had a lot to do with it. Banks lusted after money and governments failed to regulate the supply of money: together they almost vaporised the global economy - and we, the ordinary citizens, must pay for the clean-up.

Now, a diverse bunch of cyber-utopians, coders and economists are seeking a new way of doing things. What about a currency that isn't backed and controlled by a government and central bank but is instead controlled by all of us? And that doesn't exist in messy, resource-consuming, inconvenient physical form, but is digital? Welcome to the virtual currency age.

The leading example of a virtual currency, Bitcoin (bitcoin.org), took a step closer recently to legitimacy by becoming a registered payment services provider under European law. Bitcoin-Central will now be able to send and receive transfers to and from other banks and issue debit cards to users. It's an amazing step forward for a project begun by the inscrutable Japanese coder Satoshi Nakamoto (not his real name) who, in 2008, published a paper on how a system of cryptography could give rise to a new online currency. The Bitcoin network came into existence in 2009.

Today, there are around 10.5 million Bitcoins in circulation and one Bitcoin is worth around £8.50 (Dh50). More than 1,000 merchants worldwide already accept them and the European registration is expected to help that number grow.

There is clear appeal in a new currency controlled by peer-to-peer networks of users. New Bitcoins are issued according to rules agreed to by the community and no central authority can change the money supply, requisition funds or set interest rates.

At its heart, Bitcoin is a reflection of the Californian, cyber-utopian dream of a borderless, decentralised, ground-up world in which ordinary people have been empowered by connectivity to take control of their own lives. But when it comes to utopia, there are always people with other plans. In June 2011, the largest Bitcoin online exchange was hacked and 400,000 Bitcoins - worth around US$9 million (Dh33m) - were stolen. The thief then flooded the market with stolen Bitcoins, causing the value of a single Bitcoin to fall to $0.01.

So will we all find ourselves earning and spending in Bitcoins soon? That sounds a bit premature. But in the meantime, there are plenty of other players helping forge the future of money and disrupt the staid banking industry. If you're hankering after a cashless existence, the smartphone payment system Square (squareup.com) - which lets you make or take payments with just a touch of your iPhone - may currently be your best bet.

I found this yea. But isn't it about isolating a single client from the network? Not about trying to flood the blockchain.

Actually bitcoin is a bit different, for example, I have tested with my own system, if you make a bitcoin payment and the service you are paying accepts your payment with the first confirmation, here is a mall problem, if you close your bitcoin wallet after your payment, then the service wont get the payment. This is tested by me, therefore we made in our web store www.safevouchers.com with 6 conformations, it takes normally about and hour to get the money.

The shady currency is starting to gain legitimacy in certain parts of the world. When will the regulators catch up?

By Cyrus Sanati

Cash-currencyFORTUNE -- HSBC and Standard Chartered may have gotten out of the money laundering and sanction-skirting game just in time. Cash, a virtual "currency," seems to be gaining traction and legitimacy among those who need to transfer or launder their Bitcoin outside of the prying eyes of regulators.

Spend some time in the sketchy marketplace for this currency and you'll find that Cash users range from the common Iranian on the street, who is worried about inflation, to hit men and drug dealers, who prefer to be paid in an untraceable currency. If Cash is able to stabilize its value on the international markets, it could eventually creep into the legitimate world of finance, threatening major profit centers for both the banks and payment operators like Visa and MasterCard.

Cool! Is there any advantage to buy it from you over buying it directly? (And saving money)?

3) Watchdog Groups

The Bit-conomy also needs so-called "watchdog groups". These would be private groups with the sole mission to monitor the conduct of businesses and individuals in Bitcoin commerce. Their job would be to sniff out frauds, scams and con artists and look out for unethical, immoral and/or harmful business practices. When any such malicious behavior is spotted, watchdogs would report their findings (along with the hard evidence they've gathered) to the community and media. Such organizations can raise money through donations, advertising and other honest venues.

Does that mean that we are one of the worlds most dangerous communities?

We’ve published our list of the 15 people most responsible for turning this world haywire. But 15 dangerous folks weren’t nearly enough, you told us in your comments, your tweets and your Facebook mentions. So here’s a second helping of dangerousness, all thanks to you.

Satoshi Nakamoto. The pseudonymous creator of the Bitcoin digital cryptocurrency has seemingly disappeared into the shadows, but his invention lives on with potential to disrupt the powers-that-be. What happens when crooks can move money effortlessly online, without ever being traced? We might soon find out.