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Investors and journalists have likened the craze for investment in cryptocurrencies like Bitcoin to the American Gold Rush of the mid-1800s. Others compare the mania for the digital currency to the Dutch craze for tulips in the 1700s. It remains to be seen whether Bitcoin and its digital cousins will endure and become a new gold standard or lead the market into collapse like the Dutch tulip mania.
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Digital Currency
Digital currencies, or cryptocurrencies, are electronic tokens generated by networks of computers to replace traditional currencies. Paying for something with digital currency is not the same as paying with a credit card, debit card, PayPal or Apple pay, which all electronically access conventional currencies such as U.S. dollars, British pounds and Chinese renminbi.
Who created Bitcoin?
To really grasp how bitcoin works, it helps to start at the beginning. The question of who created bitcoin is a fascinating one, because a decade after inventing the technology—and despite a lot of digging by journalists and members of the crypto community—its creator remains anonymous.
