{"id":48127,"date":"2021-11-19T01:43:00","date_gmt":"2021-11-19T06:43:00","guid":{"rendered":"https:\/\/euvolution.com\/open-source-convergence\/uncategorized\/bitcoin-9-things-to-know-wftv-orlando.php"},"modified":"2021-11-19T01:43:00","modified_gmt":"2021-11-19T06:43:00","slug":"bitcoin-9-things-to-know-wftv-orlando","status":"publish","type":"post","link":"https:\/\/euvolution.com\/open-source-convergence\/bitcoin\/bitcoin-9-things-to-know-wftv-orlando.php","title":{"rendered":"Bitcoin: 9 things to know – WFTV Orlando"},"content":{"rendered":"

ORLANDO, Fla. Bitcoin -- youve probably heard of it, but do you know how it works? Read nine things to know about the cryptocurrency below:<\/p>\n

1. Bitcoin is the worlds first and largest cryptocurrency, a digital token sent electronically that has no physical backing and is not controlled by a government or bank.<\/p>\n

Read: Charities see more crypto donations. Who is benefiting?<\/p>\n

2. An anonymous programmer created Bitcoin in 2008.<\/p>\n

3. The price of Bitcoin is determined by open-market bidding on Bitcoin exchanges. Like gold, its price fluctuates, but it can be extremely volatile.<\/p>\n

4. Bitcoin exchanges and transactions are recorded on a network of decentralized computers called the blockchain.<\/p>\n

Read: Amid cryptos Wild West, Binance says a sheriff is needed<\/p>\n

5. Bitcoin can be bought and sold on websites, but it can take up to seven days for it to show up in a virtual wallet.<\/p>\n

6. It can also be traded in person by scanning a QR code using a digital wallet on a cellphone or by using a Bitcoin ATM.<\/p>\n

7. Cryptocurrencies are an attractive asset to donate because they allow donors to bypass the capital gains tax, and they provide an income tax deduction.<\/p>\n

Read: Staples Center is changing its name to Crypto.com Arena<\/p>\n

8. Bitcoin can be attractive to criminals because it allows them to anonymously open a wallet.<\/p>\n

9. It is a popular method for making ransom payments when a computer system is taken over by ransomware.<\/p>\n

The Associated Press contributed to this report.<\/p>\n

Click here to download the free WFTV news and weather apps, click here to download the WFTV Now app for your smart TV and click here to stream Channel 9 Eyewitness News live.<\/p>\n

<\/p>\n

Read the original here:
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ORLANDO, Fla. Bitcoin -- youve probably heard of it, but do you know how it works<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24697],"tags":[],"class_list":["post-48127","post","type-post","status-publish","format-standard","hentry","category-bitcoin"],"_links":{"self":[{"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/posts\/48127"}],"collection":[{"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/comments?post=48127"}],"version-history":[{"count":0,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/posts\/48127\/revisions"}],"wp:attachment":[{"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/media?parent=48127"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/categories?post=48127"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/tags?post=48127"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}