Bitcoins: The New Age of Currency

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  • What Is a Bitcoin?
  • What Are the Advantages?
  • How do Bitcoins Work?
  • Bitcoins Rise in the US
  • Who Accepts Bitcoins?
  • Take a Trip to Outer Space
  • Purchase Anonymously
  • Digital Bank Robbery
  • The Future
  • Digital Currency at the Tip of You Digits

How do Bitcoins Work?

One bitcoin is worth about $800 right now, and they are generated all over the Internet by anyone running an application called a bitcoin miner. For each block of coins there is a “mining” system, which is regulated by the network so that they are always within a certain rate. Once they are mined, your bitcoins are stored in bitcoin wallet, which allows users to send and receive bitcoins with a unique digital signature or a mix of alphanumeric coding that serves a function similar to a social security number.

(Photo: David Ryder/Getty Images)

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