07 Dec '17, 6am

How does bitcoin work and what's behind its spectacular rise?

What's the future of virtual currency? 2017 has become the year bitcoin went big. It started the year worth less than $1,000 but has soared more than 1,300% to around $14,000 . Back in 2011, it was worth less than a dollar. Some leading economists and financiers are calling bitcoin a bubble and a fraud, but industry insiders say they think it's only going to get bigger as it gains more widespread acceptance. So how does the virtual digital currency work -- and what's behind its spectacular rise? Related: Bitcoin pops above $14,000 for the first time What is bitcoin? Bitcoin (XBT ) was created in 2009 by an unknown person using the pseudonym Satoshi Nakamoto. Many of its backers saw it as a simple global payment system for anyone to use rather than a financial asset for investors to trade. Unlike the U.S. dollar or Japanese yen, digital currencies such as bitcoin aren't iss...

Full article: http://money.cnn.com/2017/12/07/investing/bitcoin-what-is...

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Image copyright Getty Images Image caption At the start of the year Bitcoin was valued below $1,000 Bitcoin crossed $14,00...

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bbc.co.uk 06 Dec '17, 11pm

Image copyright Getty Images Image caption At the start of the year Bitcoin was valued at $1,000 Bitcoin has surged above ...

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