Wednesday, October 30, 2013

First Bitcoin ATM Opens In Vancouver

Virtual Currency Moving Closer To Mainstream

What the heck is a Bitcoin?

Bitcoins were launched in 2008 and are traded within a global network of computers. They are not backed by a single company or government, but their release is tightly controlled, mimicking a central banking system's control over the minting of money.

The value of a bitcoin soared from $13 in January to a high of $266 in April as more businesses and consumers used them to buy and sell online. Some investors are also treating bitcoins like gold, using them to hedge against currency fluctuations and speculating on their rise.

Note: Email subscribers may have to visit Nanaimo Info Blog to view video.


Short video explains the basic concept of Bitcoin currency. 

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