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Also, as bitcoin enthusiasm infiltrates the hallowed halls of economics,.Bitcoin got caught in another media storm this week, though only in a supporting role this time around.Virtual currencies, notably Bitcoin, have recently gained traction in the media as potential investment vehicles.

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Bitcoin is a digital currency whereby an encryption technique is used to regulate the creation of currency units and verify money transfer.

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It can be bought at currency exchanges across the internet and used to pay for purchases at a number of online businesses.Bitcoin is based on a peer-to-peer network.Understanding the implications of this are critical in understanding bitcoin.For the first time ever, anyone can send or receive any amount of money with anyone else.Back in August, weird ads began appearing for something called the Bitcoin Robot that purported to earn massive profits by making hundreds of small.Minimum purchase is 0.01 BTC A mobile phone with the RBS or Natwest Pay Your Contacts application installed and set up.

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