The Rise of Bitcoin
For some, the idea of a virtual currency is laughable. After all, how could a virtual item be exchanged for something physical? Logically, it doesn’t make sense, but that’s the world we live in.
For some, the idea of a virtual currency is laughable. After all, how could a virtual item be exchanged for something physical? Logically, it doesn’t make sense, but that’s the world we live in.
Bitcoin had a rough start. It’s no surprise why – it’s a virtual currency. Groups of computers work together to unlock segments of data that release coins. The value of each bitcoin fluctuates daily. In late 2013, a single bitcoin was worth over $1,000. Last week, it was down to $440. This week, it’s up to $510.
As mentioned in my previous article, some users are having trouble using their credit cards on online gaming sites. Keep in mind that these users are trying to use their money on gaming sites from New Jersey, Nevada, and Delaware, so it’s completely legal. They’re turning to other methods of payment, one of which is Bitcoin. What is Bitcoin?