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Hey everyone, I've been getting into this "sport" this past spring, its really great. Gets me outside, gives purpose to just going for a cruise or bike ride or whatever. But its ten years ago tomorrow that Clinton descrambled the GPS sat signals and that day the sport was born.  
 
brief history:  
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It all started on May 1st, 2000 when President Clinton announced that the scrambling of the satellite navigation system, known as Selective Availability (SA), would be turned off.  
 
On May 2, 2000, at approximately midnight, eastern savings time, twenty-four satellites around the globe processed their new orders, and instantly the accuracy of GPS technology improved tenfold. Tens of thousands of GPS receivers around the world had an instant upgrade.  
 
On May 3rd Dave Ulmer placed his own container, a black bucket, in the woods near Beaver Creek, Oregon, near Portland. Along with a logbook and pencil, he left various prize items including videos, books, software, and a slingshot. He shared the waypoint of his "stash" with the online community on sci.geo.satellite-nav: N 45° 17.460 W 122° 24.800. The location of the original GPS stash now features a tribute plaque.  
 
On May 30th, 2000 Matt Stum suggested the name geocaching which our great activity as been known by ever since.  
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Any "muggle" interested should pick up a GPS unit from Wal-Mart or Canadian tire, or download the iPhone app and use your cell and go to  
http://www.geocaching.com/about/default.aspx  
Its more fun than you may think...