What is a Bitcoin?

by Lena

Just this afternoon, I received an email from a website I use to purchase online assistant services stating that it now accepts Bitcoins as valid payment.

Bitcoins have gotten a lot of (mostly bad) press lately. I first heard of it from a scandalous Time magazine article that exposed the Bitcoin’s role in illegal activities.

I didn’t give the Bitcoin much thought until recently I noticed several online merchants are accepting Bitcoins right alongside dollars as payment. The email I received today prompted me to investigate a little further.

In doing some research, I found out that as of today, Bitcoins are worth $680. According to the Wall Street Journal, Bitcoins were only worth $13.50 in January 2013.

That’s an unheard of return, so I thought I’d share some information I found.

What is a Bitcoin?

If you don’t know the first thing about bitcoins, this Wall Street Journal article does a good job of explaining what they are, how they are generated, and how they are used.

Fool.com also covers buying and selling bitcoins in How to Buy a Bitcoin.

Bitcoin Trading Websites – Where Can You Buy and Sell Bitcoins?  

Finally, if you are interested in obtaining a few bitcoins for yourself, here are two websites that allow you to buy and sell bitcoins online:

Bitstamp.net

Coinbase.com

Will you be participating in Bitcoin mania? The jury’s still out on whether I will invest, but as someone who occasionally buys a lottery ticket, it does have appeal.

Related Reading

Bitcoin ATM Map

What is a Bitcoin? ~ Coindesk.com

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