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http://www.ft.com/cms/s/0/50451a72-9d43-11e2-a8db-00144feabdc0.html#ixzz2YGOVPPATIt’s a “digital currency”. Normal currencies have banknotes, each with a registration number. Imagine that, instead of printing the notes, you just kept a list of the registration numbers of each of the notes and who owned them. People could pay one another by transferring the registration numbers online. That’s how Bitcoins work. A network of computers is keeping track of who owns a pot of 11m of these numbers. It’s the price of putting a number in your Bitcoin account that’s soaring – this week it hit $147, a more than tenfold increase in price since January.
