OpenRuby.com

18 Dec '12, 4pm

What the heck is a Bitcoin

Its a decentralized virtual currency that is ‘created’ and controlled via a distributed network system that can’t really be regulated but is reasonably secure. It was fascinating to me that this not only exists but there are business’s accepting it as currency. It can additionally be ‘mined’ by providing CPU power to the bitcoin network. Next time you want to start a virtual business consider bitcoin especially if your target demographic is pretty geeky. Or not but this way you won’t get taxed by the government and it seem that there is even an exchange rate with more familiar currencies like US dollars.

Full article: http://tiredallover.com/what-the-heck-is-a-bitcoin/

Tweets

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