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Testimonial
  • Bitcoins are created, traded, and controlled by the people
  • We’re definitely in a Bitcoin bubble
  • You can mine Bitcoins, but the gold rush is over
  • Most major retailers don’t accept Bitcoins (yet)
  • Truck inspections under way for the metropolitan area
  • Are the beaches safe for swimming this year?

Simply put, a bitcoin is an algorithm-based mathematical construct—a unit of measurement invented to quantify value. It’s sort of like the dollar in that way—but unlike the dollar (or any other form of fiat money, really), Bitcoins are decentralized. The original Bitcoin algorithm was created by a developer with the pseudonym Satoshi Nakamoto, but the currency itself is created, traded, and controlled by Bitcoin users, rather than by a central authority like a bank or a government. Bitcoins are completely digital, too: You’ll never lay hands on a physical Bitcoin unless you purchase a physical facsimile like this.

Bitcoin is big right now, probably too big for its own good. Since a Bitcoin has no value beyond what someone is willing to pay for it, the price of Bitcoins tends to change quickly. Indeed, in mid-January a single Bitcoin was valued at $15, which makes people who bought Bitcoins back then and sold them at $260 apiece yesterday very successful investors.

You don’t have to put your own money on the line if you want to jump into the Bitcoin market. Instead, you can “mine” Bitcoins by putting your PC to work crunching code on the Bitcoin network. If you’re lucky, you could earn a whopping bounty of 25 Bitcoins.

If you do decide to take the plunge and buy some Bitcoins on an exchange like Mt. Gox, you’ll need a place to spend them. Bitcoin is still young, but the list of merchants that accept Bitcoins is growing rapidly as the currency gains traction through media exposure. The lion’s share of Bitcoin business still happens online, as befits a virtual currency—you can spend Bitcoins at Reddit, WordPress, Mega, and WikiLeaks, for example. But brick-and-mortar businesses—mostly bars and corner stores with connections to Bitcoin advocates—are gradually adopting the currency as well.

Truck inspections under way for the metropolitan area

The Sherrif's department has put out an APB on these trucks. You know, this is the kind of thing that only happens in small towns.

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Giant orange pedal boats have been spotted at various beaches. In this report we tell you some ridiculous precautions to take.

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