24 Apr '16, 5pm

Your 10 #Bitcoin Questions Answered

Your 10 #Bitcoin Questions Answered

“Bitcoin is kind of like email for money, right. If you remember, we used to write letters, now we do email,” CEO of BitGo Inc., Will O’Brien explains. “We used to read the newspaper, now we read content online. So Bitcoin is the next evolution of financial services.” It’s been around since 2009, but since its inception, many people are still baffled by this digital currency. However, once you look at the central elements of this hugely misunderstood system, the idea of braving the world of cryptocurrency seems a little less daunting. Below, we answer 10 basic questions about Bitcoin. 1. How are Bitcoins created? New Bitcoins are created through a system called “mining”. However, instead of digging through dirt as you would with gold or diamonds, you have to solve mathematical problems. For every mathematical problem solved, you are rewarded with a set amount of Bitcoins. ...

Full article: http://carteblanche.dstv.com/bitcoin/

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