There’s been a lot of buzz around bitcoins
recently. What is a bitcoin, you say? In short: a currency made by the internet. No bank controls it. No government taxes it. You fabricate them by using your computer to solve maths problems (sort of). It’s been around for a while but has remained rather niche. Until now.

It’s become popular largely because people have started to talk about using bitcoins when they don’t trust existing currencies. Specifics? There’s
chatter of entrepreneurs setting up a bitcoin ATM in financially-battered Cyprus. Douglas
Rushkov says
that this kind of money might be a clever way out of too-big-to-fail banks, government control, and all sorts of other financial pickles that we have wandered into.

Why is it relevant? Well, it's yet another example of how the Internet's collective brainpower is great at making up mad/democratic solutions to problems. There’s always another perspective:

 Maybe
Bitcoin’s devotees are right, and it’s the currency of the future. Or perhaps
it’s a ridiculous joke—a speculative, hilarious enterprise taken to its most
insane conclusion. Given that the founder is nowhere to be found, it feels like
a hoax, a parody of the global economy. That the technology used to implement
it has, so far, shown itself to be impeccable and completely functional, and
that it’s actually being exchanged, just makes it a better joke. The truth is,
it doesn’t much matter if it’s a joke or not. It works.

You heard it here first: bitcoins are the new instagram/crowdfunding/google glass. Ironically enough, they don't come cheap: you can snag a single bitcoin for about 64 quid.

—–

(Thoughts courtesy of Planning Placement newbie James.)

Never fear, your weekly dose of Internet is here. So sit back, relax, crack open an Easter egg and stuff your mouth-holes with cheap chocolate while you gorge on the finest web action to hit our screens this week.

It's been a week of throwbacks on YouTube this week as '90s pop sensation the Backstreet Boys have tried to get 'down wid da kidz' and release a Harlem Shake. Sorry lads, bit late on that one I'm afraid. We've also seen a resurgence from Britain's favourite rap supergroup, PJ and Duncan. After performing their one and only song (I'm sure there were more but couldn't care less) 'Let's Get Ready to Rumble' on TV on Saturday, they've managed to storm the charts and are back at no1 in the hit parade. Fair do's boys, fair do's.

Other orders of business include high levels of image search traffic for Lizzie Velasquez after she was mentioned by video blogger 'KSIOlajidebt'. He's recently amassed a massive 1 million subscribers for his rants on FIFA13, which appeal massively to young males. It's not exactly politically correct but perfectly on point for his audience. Take note.

Enjoy Easter, one and all.

Get the full report
here.