The Pros & Cons of Bitcoins

Anthony Migchels – May 18, 2012

We recommend you watch this 100 second introductory video first.

Bitcoin was developed by Satoshi Nakamoto and launched in January 2009.
There are currently more than 8 million Bitcoins in circulation and after predictable initial price swings after its launch, they have traded at a fairly stable rate of about $5 for more than six months now.
Bitcoin basically is a debt free unit: it comes into circulation through ‘mining': the solving of complex algorithms by clients yields new Bitcoins.
However, no more than 21 million can be mined so there will never be more than that in circulation.
Bitcoin is important and actually nothing short of revolutionary. It is the first notable independent internet currency.


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