Bitcoin

By FRANK GARCIA

Bitcoin is a cryptocurrency currently worth $7,169 each. Cryptocurrencies are digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. There are only 21 million bitcoins that exist making the price always fluctuate.

Unlike putting your money in a bank and the bank turning your money for their profit, Bitcoin allows you to reap the benefits of your own money. Bitcoin is blowing up right now making people who invested where they were ten cents each very wealthy. Although there has been dips in the prices along the way, since January 2015 Bitcoin is up 3500%.

Bitcoin is not accepted every where yet but corporations such as Target, Subway, and even Microsoft has started taking them for payment. Bitcoin runs on a blockchain network, and are made from “mining” similar to gold but not with a pickaxe, instead by computing power in a distributed network.