http://www.weusecoins.com/

http://bitcoin.org/

Bitcoin P2P Digital Currency

Bitcoin is an experimental new digital currency that enables instant payments to anyone, anywhere in the world. Bitcoin uses peer-to-peer technology to operate with no central authority: managing transactions and issuing money are carried out collectively by the network. Bitcoin is also the name of the open source software which enables the use of this currency.

The software is a community-driven open source project, released under the MIT license.

That's bad ass.

Whatchew talking 'bout Willis?

Govmt still sees it ?

I can dig the notion of a global "Cyber Economy" that exchanges goods and services via a monetary system not under the control of Banks or Governments.

The biggest problem is that there is no practical way to enforce recompense for bad faith transactions. Unless a "Bitcoin" could be considered a "legal currency" (and how do you do THAT from within your own country?), you're at the mercy of laws and rules that govern (or do not) Barter. In addition, taxation on transactions is still an issue.

That said, "virtual money" is not a new idea.

i read it as digital black market

i'll worry about it when businesses start refusing to accept my credit card. taxation shouldn't be a problem, other than people forgetting to pay it. under NJ law, if i purchase something from a place with a lower sales tax than NJ, i'm still required to make up the difference. not that NJ actually notices it.