Over the past year, Bitcoin, a new alternative virtual currency was in the news almost every week. Since its creation in 2009, Bitcoin use has grown exponentially. It now has a presence in nearly every country in the world. Mainstream businesses including Overstock.com and Microsoft have also begun to accept Bitcoin for ordinary transactions.
1. What is Bitcoin?
Bitcoin is a virtual currency that exists on the Internet. Just like the Dollar or the Euro, one can use it to buy goods and services or exchange it for real-world currencies. Some also hold Bitcoins solely as an investment.more »