GREENVILLE, North Carolina (WNCT) – Bitcoin is currently the most popular form of cryptocurrency. This is now becoming more affordable in North Carolina, but there are questions if this is more of a risk than a reward.
Bitcoin is a digital currency founded in 2008. There are 21 million bitcoins in the world, which means that it is a fixed and limited form of currency that must maintain a stable value.
People track transactions through an online ledger called blockchain. It’s anonymous. Only the transaction history can be seen in the online ledger.
Proponents highlight the fact that it is decentralized, which means there are no third parties like banks or governments in it. They call it the future of the currency. Some experts warn that the currency is too volatile for the average person to learn.
You can transfer Bitcoin from any phone, from any computer to another around the world. Therefore, people use it as a medium of exchange for payments and remittances.
Neil Bergqvist, Co-Founder / CEO, CoinMe
It’s hard to imagine that if you go to a car dealership and want to make a down payment of ten thousand dollars in Bitcoin, by the time you walk out the door, it will cost 20 percent more or 10 percent less.
Hayoung Liu, Chair of Economics, East Carolina University
You can “mine” bitcoin by solving complex algorithms, or buy it now at select locations at Harris Teeter and Food Lion through Coinstar and MoneyGram kiosks.