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A Bit About Bitcoin

What do you know about Bitcoin? Screen Shot 2013-01-15 at 3.37.22 PM

a. Nothing

b. Heard of it

c. Bitcoin user

If you have no idea what Bitcoin is, here’s a very short answer: It’s a decentralized digital currency.

That might sound a little fringe, but Bitcoin is rapidly gaining mainstream credibility. Last month, a French bank announced it was partnering with a Bitcoin exchange to insure deposits. Ars Technica listed Bitcoin as one of the top tech stories of 2012. And just this month, a payment processing service called BitPay announced it had garnered a $510,000 investment.

Here at CBT Nuggets, we’ve transitioned from answer “a” to “b” and have now entered the realm of “c.” A number of our employees are using Bitcoin. We’re intrigued by this new currency, and want to find out all we can. The best way to do that, we figured, was to actually use it.

We’re going to share what we’ve learned. CBT team member Matt, a Bitcoin expert in the making, will be posting a series of Bitcoin entries here on the blog.

We’d also like to know what YOU want to know about Bitcoin. What do you think about using a digital currency instead of, for instance, a credit card? Let us know and we’ll do our best to answer!


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