Bitcoin value tops Gold !!

A unit of the digital cryptocurrency Bitcoin

has exceeded the value of an ounce of gold for the first time.

It closed at $1,268 on Thursday while a troy ounce of gold stood at $1,233 8)

There are currently about 15 million Bitcoins in existence.

To receive a Bitcoin, a user must have a Bitcoin address

- a string of 27-34 letters and numbers -

which acts as a kind of virtual post-box to and from which the Bitcoins are sent.

Since there is no register of these addresses, people can use them to protect

their anonymity when making a transaction.

These addresses are in turn stored in Bitcoin wallets

which are used to manage savings 

Verifying bitcoin transactions takes a lot of computer power

Will it catch on

Bitcoin is also the vehicle of use by crooks such as Ransomware and other hijackers of electronic data!