Have you heard of Bitcoin? It’s money that doesn’t really exist, except for in cyberspace. I had been hearing about Bitcoin more and more, so I decided to finally check it out.
I was hearing words like crypto-currency, and Bitcoin mining, which all sounded rather mysterious and fascinating.
Apparently Bitcoin was invented in 2009 by someone anonymous in Japan. Which makes it even more intriguing right.
I could picture some Bitcoin in the next James Bond movie as 007 tries to stop a team of international computer hackers from mining all the Bitcoin and using it to put the world in chaos. I found this great article which really explains what Bitcoin is on a very basic level.
So without further ado, what is Bitcoin?
From the article.
Bitcoin this, bitcoin that. It’s been five years this month since the virtual currency debuted, and people still don’t have a total grasp on it. It seems like just when you think it’s on the out, some news comes along that puts bitcoin back in the game. Time to stop scratching your head whenever you hear the word, because we’re bringing you a supersimple bitcoin 101. Ready? Here goes.
First Things First: What’s Bitcoin?
Think of it this way: bitcoin is a hard-to-trace digital currency that can be transferred instantly — poof! — between two people. You wouldn’t be wrong to compare it to something like electronic cash.
Bitcoin — and the currency’s main resource website, Bitcoin.org — isn’t a company, per se. It’s a network run by developers, community members, and currency users from around the world, kind of like email when it was first created.
Read the full story here;
via What Is Bitcoin?.
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