All you wanted to know about the Bitcoin

Frenchman Mark Karpeles, 30, the CEO of collapsed Bitcoin exchange MtGox, has been arrested in Tokyo on theft allegations as Japanese investigators grill him over the disappearance of hundreds of millions of dollars worth of the virtual currency.

Here are some key facts about Bitcoin.

Q. What is it?

A. Bitcoin is a virtual currency that is created from computer code. Unlike a real-world currency like the US dollar or the euro, it has no central bank and is not backed by any government.

Instead, its community of users control and regulate it. Advocates say this makes it an efficient alternative to traditional currencies, because it is not subject to the whims of a state that may wish to devalue its money to inflate away debt, for example.

Read more on this in the source site, after the first five lines. Click.. here.

Source Credits: AFP and The Economic Times

Advertisements
This entry was posted in 07. Comercio and tagged , , , , , , , , , , , , , . Bookmark the permalink.

2 Responses to All you wanted to know about the Bitcoin

  1. Nice gif image and great article!

    Like

Leave your comment

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s