In Bitcoin, we trust?

Author: | Published: 10 Jul 2013

The Winklevoss twins' attempt to transition from Facebook litigants to Bitcoin entrepreneurs this month was largely derided. While it's hard to imagine US regulators will ever approve the brothers' proposed Winklevoss Bitcoin Trust initial public offering, the fact such a product has even been suggested points to a development much harder to ignore: Bitcoin's assimilation into the mainstream.

Created in 2009 by an anonymous programmer, the concept consists of a crypto-currency removed from the consequences of a traditional banking system. Its value rides on the...