Tuesday, April 2, 2013

What is Bitcoin and why is it now over $100 U.S. dollars

On April 1, the digitial currency known as Bitcoin grew its market value to over $100 U.S. dollars, doubling in just the past two weeks.  As European countries like Cyprus, Greece, and Spain look towards the ECB and IMF bailouts, then people are looking towards an alternative currency in the wake of failed confidence in the Euro.

But what exactly is Bitcoin, and how is it different than any central bank backed fiat money?  Those questions were answered in an interview between Tom Woods and Bitinstant's Erik Voorhees a few weeks ago.

Take a look.


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