Friday, November 22, 2013

Bitcoins

Bitcoins are virtual currencies obtained thru mining, a process of solving complex math problems using computers. There is a finite number of them that can be mined, and the closer one gets to the last bitcoin, the more difficult it is to mine. Right now, each is worth $762.4, ridiculously much higher than the most valued currency on the planet! Bitcoins are created by a genius going by the name Satoshi Nakamoto. It was introduced in 2008, caught steam and became a hell of a storm. Satoshi Nakamoto has since then disappeared, perhaps now sipping margaritas somewhere in the Caribbean.  

2 comments: