The Logic Group Blog

Any of you heard of Bitcoins?  This relatively new method of online payment has really exploded onto the world stage during 2011, thus I thought it was worth looking into what all the fuss is about.

Bitcoins are one of a number of digital P2P payment methods whose aim is to recreate cash for the digital age.  Bitcoin refers to three things:
1) The decentralized, peer-to-peer network that carries the transactions
2) The digital currency itself that users exchange over the above-mentioned network
3) The client software which users use to access the network and carry out transactions

Don’t you just hate it when you are rushing around town trying to do some last minute shopping when out of nowhere you are corralled by one or more young people dressed in colourful t-shirts, holding clipboards and eager to help you save the world by relieving you of some of your money.  Some refer to them as chuggers (i.e. Charity Muggers).  Whilst a tad harsh, this nickname does underline how unpopular this method of collection has become to parts of our society.  The issue is probably one of frequency – there seem to be so many that sometimes I feel like I’m tripping over them on my way to the shops.