World’s first Bitcoin ATM to launch in Canada

Bitcoin is an emerging digital currency that isn’t controlled by any authority such as a central bank.

The world’s first Bitcoin ATM is believed to launch in Canada this week.  CBC reports, Mitchell Demeter, co-founder of Vancouver bitcoin trading company Bitcoiniacs and part-owner of Robocoin, has invested in five such machines to be placed across Canada.



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Bitcoins legalized in Germany

Bitcoin is an online virtual currency that may be exchanged for goods and services from establishments that accept them.

The ministry of finance in Germany has recognized Bitcoin as a form of digital currency in the country. The four year old virtual money, Bitcoin, is now a formally recognized digital currency or “unit of account,” which can be used for private transactions in Germany.

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Newlyweds plan to live for 90 days entirely on Bitcoin

Can this couple live on Bitcoin alone for 90 days?

There has been a lot of attention recently on bitcoin from tech early adopters and the mainstream media. The last six months has seen the value of the virtual currency grow more than tenfold and then fall half as much, as well as the government intervene in a series of suspected fraud and money-laundering cases. The crypto currency has been hailed by many as a potential future global currency, but amid all this fervor, it remains little more than an intellectual curiosity to most. That is, those who own bitcoin, have used it to complete a transaction of any sort, or are even aware how to do so are firmly in the minority.



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What is Bitcoin? This video explains it in less than 4 minutes


Bitcoin, launched in 2009 by an anonymous developer, is an intriguing technological and financial experiment. Quartz reports, there has been a recent spike in value (approximately 1,300% since the beginning of the 2013).  Starting your own currency is “not as complicated as it sounds. All you need is a system other people can understand and, most importantly, trust,” according to The Atlantic’s Derek Thompson.



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Bitcoin: The revolution of digital currency

Several brick-and-mortar businesses across the US have started accepting the virtual currency.

Bitcoin is a cryptographic digital currency that is not underwritten by any government. Bitcoin is designed to be secure and can’t be counterfeited and can be used with anonymity because the software underlying the currency operates on  decentralized peer-to-peer network. What started out in 2010 as an underground currency for grey-market activities, has since grown to a $400 million worldwide market for buying everything from pizza to domain names. In an attempt to prevent inflation, the number of Bitcoins in circulation will continue to grow automatically at an ever-decreasing rate, according to the laws of its software, until reaching maximum of 21 million coins shortly after 2030. There are just over 10 million today.



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