This new “virtual” currency is starting to make waves in many countries, and Switzerland is no exception.
Recently, a Bitcoin advocacy group was set up in Zurich, with the aim of popularizing the currency.
But what is this currency that everyone is talking about, but no one is seeing?
What is Bitcoin?
It’s a new, non-tangible “electronic” currency that doesn’t require any other than virtual storage.
The value of Bitcoin is highly volatile and difficult to define even approximately.
Like banknotes and coins, Bitcoin is becoming a currency of exchange.
Since its creation in 2009, the number of Bitcoin users has risen steadily, driving up its value.
Bitcoin has many advantages, including the ability to send money to the other side of the world without transfer fees, and in record time!
How is this currency created?
Each user in turn creates a certain amount of currency, and this is how Bitcoin invades virtual wallets.
However, the mere “manufacture” of a Bitcoin generates a certain cost.
The creation of a single Bitcoin can even reach the value it represents on the market… It is essentially extremely complex data that gives rise to Bitcoins, in a way, mathematical problems to be solved, algorithms of which a few researchers have the secret.
How can I get Bitcoin?
First of all, you’ll need to install ” Bitcoin ” on your computer, and a wallet will be generated that can also be accessed and tracked from your smartphone.
The user buys Bitcoins from another member, usually by exchanging services or real money.
Transfers, meanwhile, are totally anonymous, making it impossible to initiate legal proceedings in the event of fraud.
We therefore recommend face-to-face exchanges to avoid any problems.
It is this proven anonymity and the untraceable nature of the currency and exchanges that most frightens the authorities.
Indeed, it could be seen as an ideal solution for money laundering… Finally, as another way of staying connected, online digital currency exchange bureaus allow you to transform your Bitcoins into currency… 
The limits of Bitcoin
The more time passes, the more users Bitcoin has, and the more users it has, the higher its value, and the fewer Bitcoins it can produce… So Bitcoins don’t reproduce ad infinitum.
At some point, it will no longer be possible to solve these complex mathematical puzzles, and the limit of Bitcoin creation will be reached!
Then the first owners will be rewarded for having supported the project: when a Bitcoin was worth next to nothing, today it’s worth several hundred francs.
What’s more, the recent accidental blocking of Bitcoin on the Mt.
Gox site caused its price to plummet over the weekend, proving that the virtual currency with the “B” is still extremely volatile.
Finally, on February 6, the currency was simply declaredillegal in Russia.
The country, which did not look kindly on the introduction of another currency on its “territory”, took the opportunity to remind the population that Russia’s official currency was the rouble.
Russia therefore issued warnings about the role of Bitcoin in criminal money laundering, among other things.
Yet Russia is not the first country to disapprove of Bitcoin, joining its predecessors France, China, Finland and Canada.
Is this trend likely to develop at state level?
What do you think?
