Bitcoin – P2P Virtual Currency

Some time ago, I bought some Bitcoins.

Bitcoin @ Wiki:

Bitcoin is a digital currency created in 2009 by Satoshi Nakamoto. The name also refers both to the open source software he designed to make use of the currency and to the peer-to-peer network formed by running that software.

Unlike other digital currencies, Bitcoin avoids central authorities and issuers. Bitcoin uses a distributed database spread across nodes of a peer-to-peer network to journal transactions, and uses digital signatures and proof-of-work to provide basic security functions, such as ensuring that bitcoins can be spent only once per owner and only by the person who owns them.

Bitcoins can be saved on a personal computer in the form of a wallet file or kept with a third party wallet service, and in either case bitcoins can be sent over the Internet to anyone with a Bitcoin address. The peer-to-peer topology and lack of central administration are features that make it infeasible for any authority (governmental or otherwise) to manipulate the quantity of bitcoins in circulation, thereby mitigating inflation.[1]

Im not going to tell you how many Bitcoins I bought, but recently the asking price for Bitcoins have been heading for the sky. I wonder how far it will go, and most important: Will it Float?

*edit
Sold most of my bitcoins, and made a profit that was almost 3 times the amount I bought them all for. Woohoo

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One Response to “Bitcoin – P2P Virtual Currency”

  1. thinkweis Says:

    I just started a site to help beginners start mining bitcoin. Check it out if it’s something you want to get into. How to mine bitcoin

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