Bitcoin is a virtual or online currency created through a "mining" process where a computer's resources are used to perform millions of calculations. Once mined, bitcoins can be stored in an online wallet, traded in an online exchange, or used to buy goods and services.
Greek Finance Minister Yanis Varoufakis may have been joking when he tweeted about Greece adopting bitcoin, but some financial technology geeks say an asset-backed digital currency could be a solution to the country's cash crisis.
Bitcoin is getting more and more attention from the banks and exchanges but it still remains relatively unknown to consumers, we read on CoinDesk: A new survey published by Goldman Sachs has found that just over half of U.S. millennials believe they will never use bitcoin.
Barclays is interested in the Bitcoin technology and has partnered with a Bitcoin exchange to explore blockchain technologies, we read on CoinDesk: Barclays has signed off on a proof-of-concept to trial bitcoin technology.
Yesterday, we wrote about how the recent hype about bitcoin rallying “because” of Greece might be overstated and that finding a real “reason” behind a given move is extremely hard if not impossible. As Greece stumbles toward capital controls, bitcoin is once again proving its disruptive power within the global financial system.