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Tech Thursday: Bitcoin is Booming

Money is just paper with value. We trade it for things we need (or usually don’t need). These paper bills and metal coins can dictate lot about our lives. There’s money we can see, our coins and bills, and then there’s “invisible” money, like Bitcoin. You can pay for things while avoiding paper cuts and germs.

Bitcoin, one of the many crypto-currencies, was created in 2009. The reason it’s so popular is because the value skyrocketed. As of right now, 1 Bitcoin is worth about $15,688.The transactions are made with no “middle-man” which means no banks. You can buy Bitcoins through exchanges online, people transferring Bitcoins to other people, or mining for them. To “mine” Bitcoins you can use special computer software to solve math puzzles.

You can buy items on Overstock.com using Bitcoin and other crypto-currencies. Some other interesting things you can do with Bitcoin are: buy an Aston Plaza and Residences apartment in Dubai, pay for a vacation through certain airline sites, or pay for a funeral from Crescent Tide Cremation Services. I’m sure these are just everyday things we need to pay for.

Would I buy this? Not sure, I’m beginning to learn more about crypto-currencies.  The value of Bitcoin is shaky; it could go down at any time. No one knows what the future of Bitcoin will be. I’d rather spend time worrying about the money in my actual bank account.

http://money.cnn.com/infographic/technology/what-is-bitcoin/

https://mic.com/#.5t0Es0rJH

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