What is Bitcoin - currency or con?c. 29 April 2012
LONDON: Bitcoin is a mathematical money system driven by code. It allows users to send money directly from their computer to another on the other side of the world.
Units can be sold on online marketplaces in exchange for dollars, euro, sterling, Polish zloty, Australian dollars, renmimbi, yen and others.
The free-floating exchange rate is volatile. At the peak of a speculative bubble in June last year, one Bitcoin was worth almost $30. It has been trading between $4 and $5 for the past month.
http://economictimes.indiatimes.com/quickiearticleshow/12519163.cms
