Saturday, March 30, 2013

Cyber currency surge amid Eurozone crisis...

As the eurozone is rocked by the crisis in Cyprus, a cyber currency called Bitcoin has seen a surge in popularity from people looking for an alternative place to invest their money.

Bitcoins are basically virtual money which can be earned or bought. They were created four years ago by a hacker who remains anonymous.

There are no banks to control them, people just exchange them directly with each other over the internet. That makes them difficult to tax, trace or freeze.

In the last month, the Bitcoin has more than doubled in value.

 It is claimed the surge is partly down to people in cash-strapped countries including Spain and Greece turning to Bitcoins in the hope of protecting their money. Full story...

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1 comment:

  1. The crisis in Cyprus had caused some panic on several investors, while some are panicking some had made a great deal on investing their money on precious metals such as gold.

    Too big to Fail

    ReplyDelete