Revision as of 17:32, 24 August 2011 by Sgornick (Add Criticism section pointing out some problems with the message offered.)
OK get this. A distributed system for people to send and receive payments anonymously, instantly, reliably, and for free. Payments are made in a new kind of money whose total supply is limited and not controlled by any party. e-commerce would benefit and services, for example [[:Category:Escrow Providers|escrow]] or securing and remotely accessing your [[wallet]], could be built on this technology. Think BitTorrent meets PayPal. Sound good? Well it already exists and I have x000 of them. Keyword: bitcoins. *walks out of elevator*
Except that bitcoin transactions are not sufficiently anonymous, instantaneous nor free.