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The Best Video Explanation of Bitcoin

The virtual currency Bitcoin has been generating serious buzz since it shot to prominence after a massive rise in value during the financial crisis in Cyprus. The rise in value was mainly due the prospect of a currency free from government regulation and interference. Even real economists have jumped on the band wagon and have started thinking about the future of Bitcoins.

Bitcoins were born at the start of 2009 in the aftermath of the global financial crisis “courtesy of a mysterious and possibly non-existent Japanese programmer calling himself Satoshi Nakamoto“ Bitcoins are a mathematical concoction, combining the attributes of a scarce commodity, like gold, with the frictionless trading of an electronic currency. They achieve this through the ingenious combination of three factors: mining, peer-to-peer networking and cryptography. BBC Technology

Bitcoin Explainer Video

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