P2P... C?

A new financial institution — financial system, really — is hoping to give traditional banks a run for their money. Bitcoin is a new, decentralized online currency that just might change the way we do business.

Basically, it's virtual Monopoly money, and runs around an online marketplace where people trade goods and services for credits — Bitcoins — that can be used, in turn, to buy other products and services. (see video below)

That's all fine and well, but things get particularly interesting when you trade your funny-money Bitcoins for real world dollars (or Euros). Apparently, there are organizations that will do just that. No, I haven't looked into it myself, and no, I don't think anyone is going to be offering competitive (read: worthwhile) exchange rates, but it's a neat concept — and might be worth keeping your eye on.

For more info, visit WeUseCoins.com.*

* WeUseCoins has nothing to do with Insert Coin(s) Videolounge and Gamebar, but the latter is awesome, so I use any excuse I can get to talk about it. Like this disclaimer, for example... ;)