Bitcoin: How An Unregulated, Decentralized Virtual Currency Just Became A Billion Dolla... - 0 views
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Matthew Fantauzzi on 30 Mar 13Bitcoin, a wildly popular virtual currency has reached the status of a billion dollar market. For those unaware, Bitcoin in an online currency and market, somewhat like Paypal. What makes it different is that it strives under no rules or government regulations. It works on a peer to peer basis, where a database journals transactions and ensure security among it's users. Created in 2009, Bitcoin hasn't been able to hit the mainstream market, that is, until now. Up until this point, Bitcoin has been seen as a shady form of currency, used mainly to conceal illegal transactions over the internet. However, due to the support it has been given by large networks such as Reddit, Bitcoin has been able to access a mainstream market, where it continues to grow and prosper today. It is clear that virtual currency will have a chunk of market space in the future, but how long until the government tries to shut it down or bare down regulations? And if these regulations are in place, will online markets such as Bitcoin be able to remain popular? Only time will tell.