This is not the first time that you hear of electronic money , but while in the past it was limited episodes such as Microsoft Points for Xbox or Linden dollars to play Second Life, in this case it could be really a turning point in terms of online transactions. To emphasize the scope of the operation Bit coin is, among many newspapers which he occupied, even the time that explains what it is and why it might subvert the traditional channels.

Designed by the Japanese Nakamoto in 2009, the virtual currency Bit coin does not use a central body and does not need intermediaries . This is why it is also talked about money “peer to peer” nodes of the network being the only ones to hold information about transactions carried out with Bit coin and allowing you to see if it is the rightful owner of this digital money to use it and especially that the money is spent only once to avoid the so-called “double spending” , a real thorn in the side since he started talking about electronic currencies.

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No bank and no other intermediary, absolute anonymity of payments as well as with real money when you spend in any activity and a software completely open source that can be refurbished and corrected by bugs by anyone familiar with the codes of creation software. The interesting aspect concerns the possibility to perform currency exchange from one currency to another while keeping their wallets completely virtual and choosing whether to keep their Bit coin on your pc or deposit them in a sort of virtual bank specially created by the creators of the new currency.

The most serious problem, however, concerns the illicit purchases (goods not marketable or counterfeit) that such money can afford guaranteeing the anonymity of transactions as explained above and making it impossible to go back to the buyer. Critical issues aside, the trend Bit coin is growing and there are those who actually use the electronic money is not to buy but to save and invest . This, as explained by Krugman, might make Bit coin the new “gold standard” totally changing the rules of investment and strongly modifying the current economic scenario.