Bitcoin, the decentralized crypto currency used to purchase all sorts of goods online, is suddenly enjoying a shining moment in the spotlight. Created in 2009, the once-underground open-source movement is seeing waves of newcomers picking up digital pickaxes (i.e. setting up their own Bitcoin mining operations) in hopes of striking it rich. Earlier today, the electronic currency's value peaked at an all-time high of $266, before plummeting back down to $178 a coin, reports The Verge. Still confused about what Bitcoins are? Don't worry. You could read our handy primer. Or just watch this wonderfully comprehensive explainer put together by director/animator Duncan Elms. (Via Motherboard)
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What's a Bitcoin? Watch this video explanation
April 10, 2013
of The Week magazine.