Bitcoin: the digital currency making millionaires •



The digital currency bitcoin has exploded in popularity since it began in 2009.
Key points
•Bitcoin is a digital currency known as a cryptocurrency
•The peer-to-peer technology underpinning it is known as the blockchain — a public ledger of all transactions
•Bitcoins can be stored in a digital wallet and used to buy other currencies or real world goods
Where once a single bitcoin was worth a few cents it is now worth about $8,302 per coin (February 2018), creating millionaires in the process.
There have been many reported cases where people mined thousands of relatively worthless bitcoins as a hobby years ago, only to now realise they are rich.
One IT worker even threw out a hard drive containing 7,500 bitcoins. His haul would have been worth about $69 million in 2017.
If you want to know whether it's worth getting into and you can't tell a bitcoin from a blockchain, read our explainer to see how it all works.
#Vimeo #xwealthboxblog

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