May 22, 2014

Bitcoin’s nefarious cousin Darkcoin is booming

Posted by in category: bitcoin

by Andy Greenberg

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Someone out there likes anonymous money.

In only a month, the little-known bitcoin alternative known as Darkcoin has rocketed nearly tenfold in value — from around 75 cents a coin (44p) to almost seven dollars (£4). Its selling point: Darkcoin offers far greater anonymity than bitcoin, mixing up users’ transactions so that it’s incredibly difficult to trace a payment to a person. And though few have yet to accept that more-anonymous coin for actual goods and services, the promise of Darkcoin’s privacy features seems to have sparked a miniature boom. It’s one of the fastest growing among the wave of cryptocurrencies that’s followed bitcoin’s success, with the total value of its combined coins topping out at nearly $30 million (£18 million).

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