Bitcoin is the biggest threat to fiat currencies since the credit crunch, and everyone wants a piece of it. But while there's been hundreds, if not thousands, of innovations around the digital currency, not all of them do well.
Just look at Mt. Gox, the exchange house that went bankrupt after losing 650,000 bitcoins. However, that doesn't mean people have stopped trying.
Here we explore five cool projects doing fun - and sometimes dangerous - things with Bitcoin.
Whoever said playing games is a waste of time? Coinworld is a project that wants to let you earn bitcoins while you play Minecraft.
The creators claim the bitcoin-supported Minecraft server would be a world first.
Gamers building structures in the game could charge access to their creations, or mine materials and sell them.
The creators add on Coinfunder.com (a Kickstarter for Bitcoin projects): "Players can use a bank account to earn interest while they play, gamble at the casino, and do whatever else builders make!"
The project seems to have missed its funding target of five bitcoins by May 1, but it still appears to be live.
The money would fund renting a server, hiring developers and admins and building the website.
Undergrads at the prestigious Massachusetts Institute of Technology (MIT) will all be given $100 in bitcoins at the start of next semester, after a couple of bright sparks wanted to experiment with the digital currency.
Jeremy Rubin, a sophomore, and Dan Elitzer, an MBA candidate, hope the scheme could see MIT become a self-contained economy after raising half a million dollars to support the initiative from alumni.
With a critical mass of users, the pair believe people may begin to buy and sell things with other students using the currency more than bitcoin users currently do - most are isolated from each other in locations spanning the globe.
Established in 1957, BCS, The Chartered Institute for IT, promotes wider social and economic progress through the advancement of information...