19 Dec 2013 / ABCNews – You’ve probably heard about Bitcoin, the digital currency that may or may not be a fad and that may or may not make you a millionaire. But would it make for a good holiday gift? Well, like just about everything involving Bitcoin, it depends on who you ask.
There are lots of different opinions about Bitcoin, but one fact is not in dispute: The digital currency has soared in value and is trading at about $548. Last year, one Bitcoin was worth less than $15. So if you received a Bitcoin in your stocking last year, consider yourself lucky. On the other hand, what goes up must come down — the currency’s value is down more than 50 percent from November, when prices reached $1,200.
If you’ve never owned a Bitcoin and still aren’t exactly sure what the heck it even is, here’s a quick primer. Bitcoin is a digital currency that is created online through a difficult and time-consuming “mining” process that involves solving different kinds of puzzles. Most of us would never mine Bitcoin since it’s far easier just to buy it outright from an online exchange…… Read more
