Gold campaign moves to accept Bitcoin
With gold prices reaching a record high this month, ProtestBarrick – an all-volunteer campaign against the world’s largest gold mining company – has decided to accept the new currency. Bitcoin is an electronic payment system that operates as a “decentralized digital currency”, where information about every Bitcoin resides on every computer within the Bitcoin network. Much of Bitcoin’s appeal is based in the fact that the number of Bitcoins produced in the world is limited by an open-source algorithm as opposed to the whims of a central government. Initially created in 2009, there are now over 6.5 million bitcoins in existence with a value of about $10 US each.