Annie Lowry and Bitcoins from Slate

A highlite:

Bitcoin is a peer-to-peer currency, meaning it is not issued by a central authority, like the dollar or yen. The money supply grows as the network grows and will max out at about 21 million bitcoins. But right now, you can purchase them online on the Mt. Gox currency exchange or an over-the counter market. They do not exist in physical form—only electronically, owned and traded by members of a special, anonymous peer-to-peer network. No third-party intermediary, such as a payment processor or a bank, needs to keep tabs on or process the electronic transactions. The network itself does, with each participating computer running a special, secure program that ensures no user can spend a coin twice or create new money out of thin air.

A good money for us libertarians and crooks!