Bitcoin

[bobs3]

Posted: 2/26/14 at 1:03pm

With all of the news about the Bitcoin collapse today I just have few questions. What is a Bitcoin and why do people buy them and what do they use them for?

[Liza's Headband]

Posted: 2/26/14 at 1:05pm

bobs, check out this link. It's not just an article. It's an infographic. Really great overview of the bitcoin: http://money.cnn.com/infographic/technology/what-is-bitcoin/

The (very) short answer is that it's digital currency.

[HorseTears]

Posted: 2/26/14 at 7:17pm

That's a helpful infographic, Liza, appreciate it. I guess I just don't understand who Bitcoins are of any real use for other than those buying illicit products/services on the black market and gaming/math nerds who enjoy the mining process. The whole completely unregulated and uninsured thing would scare me off.