Why mind-spinning Bitcoin is revolutionary

Bitcoin has so far defied the naysayers and, despite humps, it looks like it – or something like it – could one day revolutionise the world's currency conventions.

Bitcoin has been getting attention recently due to its meteoric rise in value against fiat currencies. Just over a week ago the market capitalisation reached $1 billion. Overnight it cracked the $2 billion mark, with each Bitcoin valued at $US194.90. Nobody yet knows the true value of 1BTC, and no one knows what will happen when this 'price discovery' comes to an end.

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