What is Bitcoin (BTC)?

Sponsored by What's this? What Is Bitcoin? Bitcoin (BTC) is a cryptocurrency, a virtual currency designed to act as money and a form of payment outside the control of any one person, group, or entity, thus removing the need for third-party involvement in financial transactions.

What is the most famous bitcoin hack?

Gox Mt.Gox is the most famous Bitcoin hack. Japan-based Bitcoin exchange Mt. Gox had been operating since 2010 and was the biggest Bitcoin exchange at the time. But very few know that this big exchange was not hacked only once, but twice.

What happened to bitcoin?

After a tough year for cryptocurrency in general, Bitcoin has slumped to its current price of just under $17,000. Hacking concerns. While backers say the blockchain technology behind Bitcoin is even more secure than traditional electronic money transfers, there have been a number of high-profile hacks.

What are new bitcoins?

New Bitcoins are created as part of the Bitcoin mining process, in which they are offered as a lucrative reward to people who operate computer systems that help to validate transactions.