How Does BitCoin Work?

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If money is only valuable when we believe in it, how much is a BitCoin actually worth? Jonathan explains the virtual currency as well as how to mine it and the risks involved in investing.

Whether the topic is popcorn or particle physics, you can count on the HowStuffWorks team to explore – and explain – the everyday science in the world around us on BrainStuff.

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20 COMMENTS

  1. If BitCoin can not be spent more than once, how is it that the person who receives BitCoin as payment can use it again?

    If it can only be used once, shouldn't it lose its value entirely after the transaction?

  2. Any one have $3 extra BTC to spare?
    Im trying to but from a vendor that only accepts BTC I had the coins I needed until Chrome extension stole 3$ from me! any help will be great.. Thanks! 

    Im also Willing to give someone gold in exchange for BTC but I need someone thats trust worthy and will send me the BTC.

    1AaHRjZPnWprY9Xm8G3PhWWASgTrzLjW4T

  3. i'm sure some kind of digital currency like that will set the rules or non rules(finally) for currency in the future. everything will be digitalized, recorded in a big computer storage somewhere but security will have to be assessed and bitcoins will have to be guaranteed by a fund in case of theft(with the help of a guaranteed paper wallet or something some kind of receipt). when the usage in normal life will spread and so security , volatility will stabilize and bitcoin(or another crypto pseudo world currency will reign, the same for everybody around the world.) experience with bitcoins for me? a bad one. i had won 0.03 US$ in bitcoins and tried to put in a digital wallet in blockchain and after a week my 3 cent were gone. somebody haceked the site or whatever, dont know. of course i dont care about 3 cents but if i had more?

  4. Our Digit-DNA System has a new enemy to face and defeat, BitCoin, cos it's almost the same as the Fed Reserve. Cos both are speculative and has no real and legit fund and support. BitCoin has its own inflation and is at hand of only those who have an EXPENSIVE EQUIPMENT to generate a fckg single coin, which cannot be generated by all the population. Our Digit-DNA has the most legit fun and support THE HUMAN CAPITAL, with total human control by the people, not by corrupt leaders. Crypto currencies are speculative and have lots of vulnerabilities. The Digit-DNA has no tech-vulnerabilities. If BitCoin wish to work together, then we will generate a WORLDWIDE BUDGET with no need to be generated by complex math formulas, neither need any comp to generate them. People from small communities and neighborhoods will control themselves as they will control and support themselves. Are you with us? or with the economical terrorists and speculators?

  5. Thanks for explaining this new currency. But I still have a hard time trusting that hackers can't just scramble some numbers and make more. I don't know much about coding but to say it's un hackable sounds like the creators of the Titanic. 

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