Watch: Bitcoin explained in 3 minutes and 23 seconds

This short video looks at Bitcoin, the decentralised digital currency that has been making headlines and attempts to explain what Bitcoins are, how they are created, exchanged and what the future holds for the cryptocurrency.Bitcoin is an online currency that allows people to make one-to-one transactions, buy goods and services and exchange money across borders without involving banks, credit card issuers or other third parties. As a result, this exotic new form of money has become popular with libertarians as well as tech enthusiasts, speculators - and criminals. Bitcoins are basically lines of computer code that are digitally signed each time they travel from one owner to the next.

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