Sunday, February 09, 2014

Bitcoin Finances Swedish Drugs Deals: Report

Via The Local:

The Bitcoin virtual currency has emerged as a common medium of exchange in connection with the sale of illicit drugs in Sweden, according to a Swedish media report on Sunday.

The internet currency was used as legal tender in at least six drugs transactions in 2013, according to the report in the Dagens Nyheter daily.

Bitcoin is a digital currency and peer-to-peer introduced as open source source software in 2009 by developer Satoshi Nakamoto.

The currency uses cryptography to control the creation and transfer of money.

The currency has enjoyed a boom in the past year, gaining significantly in value.

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