Bitcoin is a digital currency that operates outside the control of governments and banks. Trading it is fast and cheap. Its volatile price–found by looking at BTCUSD–has made it a favorite of high-stakes, risk-seeking investors eager for the potential of a big payoff.
What is bitcoin?
Defining bitcoin can be tricky. To some, it is a commodity. To others, it is digital cash.
However, the most concrete definition of bitcoin is this: It is software, a program designed to allow people to exchange value directly with each other. It was created by someone calling himself Satoshi Nakamoto, unveiled in 2008 and launched the following year.
What makes bitcoin unique is that this piece of software is run across a network of linked but independent computers. In this way, no one party has control over the network. No central bank and no government can dictate the currency’s value. Read more…..
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Mike Novogratz, Galaxy Digital Founder and CEO joins the Yahoo Finance Live panel with the latest on cryptocurrency.