“Bitcoins are all the rage in the techie community and gaining popularity fast. But what is Bitcoin? Professor James Angel explains: ‘Bitcoins are a string of numbers…these numbers can be used to make payment.’ It’s digital currency, existing only online. You get them by ‘mining,’ or solving complicated math questions and algorithms. Anthony Mongeluzo, president of Pro Computer Services, explains further: ‘Anyone could use Bitcoins. Primarily it’s used as an online payment system, but it’s a universal currency which means it’s accepted in most countries.’ The currency can be transferred person to person via the Internet, without a bank.”

http://www.myfoxphilly.com/story/23224356/fox-29-explores-bitcoin

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