Bit Coin

[0james0]

Some guy bought about $100 years ago, spur of the moment.

Its now worth $200,000!

[boyla]

Try cashing them out.

To late to make money from them.

[Master]

What is to stop someone else just starting another currency?

[0james0]

What is to stop someone else just starting another currency?

A few have tried (and failed). There was another online currency that didn't catch on before this.

The big problem is trust, would you trust buying something that could potentially have no value soon after you buy it. Also, availability, you need to be able to spend your new currency and if no where accepts it, its not worth having.

I'm sure another currency will emerge, the idea of a global currency would have mass appeal, no more charges for sending money abroad, instant global transfers. Bit coin is also anonymous so can be used by drug dealers, criminals and people in countries that monitor everything you do.

[boyla]

Lots of people made money from litecoin.
There are at least ten digital currencies.