Bitcoin 'miners' dig more than just the money

In the basement of Brian Samson's house in Middletown, Delaware, computer hardware hums softly beneath monitors with scrolling lists of seemingly random numbers and letters. As Samson goes about his day as a web designer and app developer, the setup earns him money in the form of digital currency.

The best-known type, bitcoin, is how 36-year-old Samson began investing in the growing world of so-called cryptocurrencies four years ago. Intrigued by the technology used, which eliminates the need for traditional banks in transactions, he became both an investor and one of the "miners" who keep the system going.

"It gives control to people instead of a government, and I like that," Samson said. "And its value is going up. I like that, too."

In simple terms, bitcoin — which dates only to 2009 — is part currency, part commodity. It can be used as payment for transactions at companies that accept it the same way U.S. dollars are, or it can be viewed as an investment similar to gold.

Full story at http://cnb.cx/2i9gpnZ

Source: CNBC

 

 

 

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