
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.
Continue reading… “Bitcoin: The revolution of digital currency”