The Bitcoin

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Bitcoins came up in a brief discussion during one of my CS courses this past week. Apparently, these have been around since 2009, but I hadn’t heard anything until now. Essentially, a bitcoin is a digital currency that can be used across the internet. The Bitcoin Client can be run from a linux box and  can “mine” for coins on a network which are then saved into a digital wallet with electronic signatures. Major perks of the new currency include:



Getting Started

So what determines the value of a Bitcoin? According to “”:

“The value of a commodity is determined by supply and demand. The supply side of Bitcoins is limited by design. The demand comes from people wanting Bitcoins to trade with.”



Exchange Rate

The exchange rate can be monitored online at MTGOX. Here is a diagram of the currency value over the last 24 hours at the time of writing this post:

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