04 Oct '13, 7pm

CBS Helpfully Explains That Bitcoin Is Not Actual Coins

CBS Helpfully Explains That Bitcoin Is Not Actual Coins

We get it! Bitcoin, the newfangled virtual currency , is difficult for normals to understand. Fortunately, this handy CBS News graphic from its segment on the Silk Road bust earlier this week has some answers. In that it is the opposite of helpful or correct. Bitcoins are not real coins, or really even physical currency (although, it is possible to get physical tokens with an encrypted hash printed on them for physical exchange). What it's definitely not is a pile of gold that Scrooge McDuck could dive into. And while bitcoins may not be legal tender, and exist on the internet, they are most certainly a real currency; you can exchange them for all kinds of goods and services! Fun fact, a single BTC is worth about $137, so on the right, we should be looking at piles and piles of cash instead of what looks to be about $1.37 worth of pocket change. S [CBS News via Instagram —...

Full article: http://gizmodo.com/cbs-helpfully-explains-that-bitcoin-is...

Tweets

"Silkroad Seized Coins" #Bitcoin address has received 1300 BTC after seizure & account holds 27,365.89919925 BTC

"Silkroad Seized Coins" #Bitcoin address has re...

thehackernews.com 05 Oct '13, 8am

Ross Ulbricht , the recently arrested mastermind behind Silk Road , appeared in court yesterday where his lawyer begged fo...

What seizure of illicit Silk Road means for virtual currency Bitcoin - Los Angeles Times

What seizure of illicit Silk Road means for vir...

latimes.com 03 Oct '13, 6pm

There have been stories about the wild swings in the virtual currency's exchange rate, moves by financial regulators to sh...

VIDEO: What is Bitcoin?

VIDEO: What is Bitcoin?

bbc.co.uk 03 Oct '13, 2pm

What is Bitcoin? and how does virtual currency work? 3 October 2013 Last updated at 13:52 BST The value of the virtual cur...

Video Of The Week: Bitcoin Under The Hood

avc.com 05 Oct '13, 12pm

Bitcoin was in the news this week and once again the association wasn't all that positive. As I have said publicly, privat...

Elon Musk letter explains why that Tesla Model S caught fire

Elon Musk letter explains why that Tesla Model ...

treehugger.com 04 Oct '13, 8pm

Earlier this week, a Model S travelling at highway speed struck a large metal object, causing significant damage to the ve...

#bitcoin

#bitcoin

businessweek.com 02 Oct '13, 8pm

For most of its brief existence, Bitcoin has been widely associated with Silk Road—the anonymous cybercurrency, naturally ...

If This Doesn't Kill Bitcoin, What Will? - The Market Now

If This Doesn't Kill Bitcoin, What Will? - The ...

go.bloomberg.com 02 Oct '13, 7pm

The alleged operator of the Bitcoin-based online marketplace Silk Road was arrested in San Francisco yesterday on money-la...

Bitcoin: what you need to know

theguardian.com 04 Oct '13, 10am

When the Silk Road, the internet's biggest marketplace for illegal drugs, was taken down earlier this week , the price of ...