08 Aug '13, 7pm

What's Bitcoin Worth In The Real World? by @laureninspace

We’ve all got at least a passing understanding of Bitcoin, that digital crypto-currency that can’t be regulated by any bank or government (at least for now ). But here’s a trickier question: what’s a bitcoin actually worth? Like gold, Bitcoin derives its value from scarcity. It is intentionally difficult to use computers to create and add to the chain of cryptographic phrases that make each bitcoin unique—a process known as bitcoin mining. The currency is capped with a finite limit, too, so the more bitcoins exist in the world, the harder and slower it is to mine more of them. See also Bitcoins... What Are They Again? It’s easy to determine how Bitcoin is trading at any given moment, but that’s not the same thing as knowing what its actual value is in the real world. On Mt. Gox , the world’s largest Bitcoin exchange, bitcoins were changing hands at $103.80 as of August 8. ...

Full article: http://readwrite.com/2013/08/08/whats-bitcoin-worth-in-th...

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What's Bitcoin Worth In The Real World?

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