Most recently Mt. Gox shut down, and a percentage of the Bitcoins “disappeared.”
But what does this all mean? What is Bitcoin, and where did it come from? Why has it become such a big deal in the last year?
Bitcoin was created in 2008 by “Satoshi Nakamoto.” At this point, no one knows the true identity of Satoshi Nakamoto, though plenty have tried to discover it. The technology requires the Bitcoins to be “mined,” a process that produces 3,600 BTC a day. (BTC, by the way, is the abbreviation for Bitcoin.) At the current rate, it’s anticipated that all Bitcoins will be mined by 2140.
Interest in Bitcoin spans all aspects of tech, from drug dealers on the deep web to prominent venture capitalists. Check out the infographic for a few quick facts about Bitcoin. For more information on how it all works, Khan Academy has a helpful video series.
50 Insane Facts About Bitcoins [Infographic] by the team at Who is Hosting This