Apr 12 2013, 7:00am CDT | by Luigi Lugmayr
The virtual currency Bitcoin is making big waves these days. After a huge rally the Bitcoin has hit an all time high of over $266. Then yesterday it dropped by about 50%. The Winklevoss Twins are not moved by this crazy volatility and actually bought more. According to New York Times, the Winklevii own about Bitcoins at the value of $11 million.
Bitcoin was created by an anonymous Japanese person or group. To earn Bitcoins you need to solve mathematical riddles. Bitcoins can be traded on several exchanges.
If Bitcoin really will the future government independent currency remains to be seen. I am pretty sure that governments will step in when Bitcoin reaches a size that it will really compete with traditional currencies.
Luigi Lugmayr (Google) is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at firstname.lastname@example.org.
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