The rise of bitcoin
Bitcoin uses peer-to-peer technology to operate with no central authority or banks - managing transactions and the issuing of bitcoins is carried out collectively by the network
This May 1, 2014 photo taken in Washington, DC shows bitcoin medals. Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. (AFP/Getty Images) A Israeli man buys Bitcoins at the first Bitcoin ATM machine installed in the Middle East on June 11, 2014 at the Town-House TLV hotel in the Mediterranean coastal city of Tel Aviv. Bitcoin is a form of cryptography-based e-money that can be stored either virtually or on a user's hard drive, and offers a largely anonymous payment system. (AFP/Getty Images) This picture taken on June 20, 2014, shows a man placing his phone next to a Bitcoins (virtual currency) dispenser at La Maison du Bitcoin in Paris. (AFP/Getty Images) This picture taken on June 20, 2014, shows a man taking a receipt from a Bitcoins (virtual currency) dispenser at La Maison du Bitcoin in Paris. (AFP/Getty Images) This June 17, 2014 photo taken in Washington, DC shows bitcoin medals. Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. (AFP/Getty Images) A Israeli man buys Bitcoins at the first Bitcoin ATM machine installed in the Middle East on June 11, 2014 at the Town-House TLV hotel in the Mediterranean coastal city of Tel Aviv. Bitcoin is a form of cryptography-based e-money that can be stored either virtually or on a user's hard drive, and offers a largely anonymous payment system. (AFP/Getty Images) Henry Chavez of Nevada uses a newly-installed Robocoin ATM that accepts Bitcoin at the D Las Vegas on May 24, 2014 in Las Vegas, Nevada. The machine, the first Bitcoin ATM ever placed in a casino, allows customers to exchange Bitcoin into cash and vice versa. The D began accepting the digital currency in January for nongaming transactions. (Getty Images) The display screen of a Robocoin ATM that accepts Bitcoin at the D Las Vegas is shown on May 24, 2014 in Las Vegas, Nevada. The machine, the first Bitcoin ATM ever placed in a casino, allows customers to exchange Bitcoin into cash and vice versa. The D began accepting the digital currency in January for nongaming transactions. (Getty Images)
