
Bitcoin is the world’s first decentralized, digital currency. Its extraordinary performance over the last half year has caused quite some stir, not only among ‘cyber geeks’. Users and supporters see Bitcoin as a technological breakthrough and expect its spending possibilities to increase as exponentially as its price. Meanwhile, critics point to many of these same characteristics as flaws. They are waiting for the bubble to burst, calling it a structurally flawed experiment.
How it works: This video – made possible with donations from the Bitcoin community– explains the basic idea behind the new currency:
To acquire Bitcoins, users can buy them on a trading platform or become ‘miners.’ The latter requires hardware and electricity – both usually purchased with conventional money.




