bitcoin_euroA currency that is neither tied to a natural resource nor controlled by any central authority, bitcoins represent a unique manifestation of the dynamic changes the internet and the connected international culture it has spawned bring to the world of economics and global commerce.

As covered previously here on Demagaga, bitcoins can be used to purchase items over marketplaces set up within the deep web.

Here, vendors can sell anything from weaponry to high-powered narcotics, all without the interference or monitoring of outside authorities.

It is literally a virtual bazaar where most anything can be traded.

One of the most popular methods of exchange in this online marketplace is the bitcoin, a virtual currency that is tied to market supply and demand dynamics and is wholly free of regulation. A limited number of bitcoins are available in the virtual market, with the bitcoin’s inventor stating that more will be released as more complex mathematical computations are solved but, ultimately, there is a finite number of bitcoins that will be virtually minted.

How Five Economists Feel About Bitcoins’ Future

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