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Bitcoin Chosen As "Word of The Year" by The ANDC


Turk

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Bitcoin has been chosen as the word of the year by the Australian National Dictionary Centre (ANDC).

Bitcoin is a type of digital currency in which transactions can be performed without the need for a central bank.

A single bitcoin is essentially a computer file or code that is traded between two people.

A peer-to-peer network using cryptography is used to verify bitcoin transactions as opposed to a central bank.

The currency has exploded in popularity since it began four years ago.

Where once a single bitcoin was worth a few cents online, it is now jumping around $1,000 per coin, creating millionaires in the process.

http://www.abc.net.au/news/2013-12-13/australian-dictionary-centre-chooses-bitcoin-as-word-of-the-year/5154160

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