Friday 28 November 2014

What is Bitcoin?

Published 06/02/2014 | 02:30

Bitcoin is a 'virtual' currency, made up of secure computer code. It can be bought and sold online for hard currencies such as dollars or euros. It can also be 'mined' using high-end computer equipment. The virtual currency has no single oversight body and is limited by a pre-determined computer formula, so units cannot be copied or faked. It is popular among technology enthusiasts and unpopular among bankers and economists.

Irish Independent

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