Wherein I dip my toe into the bitcoin sea 3

Wherein I dip my toe into the bitcoin sea
JISHOU, HUNAN — Bitcoin may be the greatest thing since hard money, or the biggest flop since the 17th century tulip bulb bust, but I wanted to give it a try, just in case I could make some money. Bitcoin is a computer- and Internet-based currency, although some say it’s more a commodity than a kind of money. It’s decentralized, meaning there is no one authority (like a national bank system) controlling it, and it’s virtual, meaning it exists only in digital form. As I write this, 1 Bitcoin (BTC1.0) is worth about US$864, a considerable decline from the week before, when it crossed the $1,000 mark. How do you get bitcoins? There are four ways. Sell something for bitcoins. Trade something for bitcoins. “Mine” bitcoins on a computer. Buy bitcoins with regular, old-fashioned money. A fifth way, stealing bitcoins, is supposed to be nearly impossible, because bitcoin “wallets” and transactions are heavily encrypted. Hence the alternate name for bitcoin and its many cousins: crypto-currencies. Well, I wanted to get ahold of some bitcoins and another crypto-currency, peercoin. This was last week, when both were flying high relative to the dollar. I had nothing to sell or trade. My mid-range ...
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