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28 March 2013, 00:12
Bitcoin is a digital currency that is transferred person to person. Each coin is actually a unique code that can be broken down into pieces, but not copied. Bitcoins are created by "miners," or people with seriously beefy computer set ups that generate the unique bits of code. There's a limited number of combinations, so eventually there will be none left to mine, so no inflation.
Most people get them by selling amazon gift vouchers for bitcoins on trading forums. They are sent to your virtual wallet. You can then use them in online shopping, and the attraction is that it's really fast and no banks are involved.
The nature of bitcoins combined with things like TOR anonymous browsing mean that some people buy and sell illegal stuff (as BeardyMan mentioned) on hidden websites. Payment it done via bitcoins, and it's essentially Amazon but with drugs, fake ID's, or even guns on other sites like the Armoury.
Most people get them by selling amazon gift vouchers for bitcoins on trading forums. They are sent to your virtual wallet. You can then use them in online shopping, and the attraction is that it's really fast and no banks are involved.
The nature of bitcoins combined with things like TOR anonymous browsing mean that some people buy and sell illegal stuff (as BeardyMan mentioned) on hidden websites. Payment it done via bitcoins, and it's essentially Amazon but with drugs, fake ID's, or even guns on other sites like the Armoury.
Woe to those who add house to house and join field to field, Until there is no more room, So that you have to live alone in the midst of the land!
Isaiah 5:8
Isaiah 5:8