October 2014
Beginner to intermediate
240 pages
5h 33m
English
Although Bitcoin is the best-known virtual currency, it wasn’t the first. In fact, Bitcoin is just the latest of a multitude of schemes designed to supplement or replace traditional money.
One of the first virtual currencies was E-gold, founded in 1996. E-gold was unique in that its virtual currency was backed by real, honest-to-goodness gold bullion. In essence, trading E-gold was basically the same as swapping gold ownership, but anonymously.
At its peak, in 2008, E-gold claimed more than five million user accounts. However, ...