What did Richard Branson and other famous people have to say about Bitcoin? The last one WILL shock
What is Bitcoin?
The controversial digital currency Bitcoin has soared in value and is now worth more than a nugget of gold.
As it stands on November 23rd, a single Bitcoin is valued at £6,145 while a troy ounce of gold is worth £973. Here's the lowdown.
Bitcoin is a virtual currency that was created in 2009 by a mysterious Japanese man/men using the alias Satoshi Nakamoto.
Individual Bitcoins are created by computer code, with a maximum number than can exist of just under 21 million so no more can be made or printed like traditional money can which courses problems like inflation and deflation.
There are currently around 16 million in circulation.
Transactions are made without middle men, so there are no transaction fees and no need to give your real name.
More businesses are beginning to accept them and in some parts of the world you can even buy pizza with Bitcoins. Amazon are rumoured to likely be excepting payment by Bitcoin. When this happens the value will shoot at a higher rate than it ever has in it's history.
You can set up a virtual wallet web