Bitcoin it’s an electronic ledger system that has monetary value and it’s not controlled by any government. Bitcoin started in 2008, but no one really paid attention to it in the beginning.
“At that time you could mine Bitcoin on your laptop… and it was just a nerdy, geeky thing to do because what are you going to do with them?” said Mitch Tyner an attorney with the office of advocacy in D.C.
Tyner, who was mining Bitcoin before the electronic currency took off, said that if someone is looking to buy some bitcoin, they should know that it’s not like normal stocks. He said that it is not unusual for Bitcoin to rise or fall drastically within the span of a day or two.
“It is extremely volatile because of supply and demand,” Tyner said.
While Bitcoin is highly publicized, it is only one many different types of cryptocurrencies. Tyner added that people should be wary of a cryptocurrency that they are unfamiliar with and that they should do their research before investing in it.
