Wednesday, April 17, 2013

Bitcoin

There's been a lot of news about Bitcoin lately, the virtual currency for Internet uses which has no actual intrinsic value whatsoever. Some adventurous investors had been trading in it, but its value crashed recently, which leads me to wonder: Is it called "Bitcoin" because it's the kind of obviously fake coin that would lead someone to test its authenticity by biting on it, and it is thus determined to be worthless? Is there a story behind the name "Bitcoin"? Is it because someone bit it and found out it was counterfeit? I wonder if it's based on that coin Underdog bites in the opening titles of the old animated series Underdog.

Here is Underdog biting the coin (It's at ~1:17):

http://www.youtube.com/watch?v=5CMjaXNnHCk