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Bitcoin , described by some  as digital gold, is being presented as a new kind of currency. Launched in 2009 by a mysterious figure going under the name of Satoshi Nakamoto, the cyber-currency is independent of monetary authorities and banks. This means, for example, it can’t lose value by inflation or you needn’t entrust your money to banks.

If you want to receive a  Bitcoin , you must also have a Bitcoin address – a randomly generated string of 27-34 letters and numbers – which acts as a kind of virtual postbox to and from which the Bitcoins are sent.

Watch the video and find out what bitcoin mining is, what you do with your bitcoin wallet and how it is being used nowadays.


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This entry was posted on 06/05/2013 by in Reading, Technology.
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