One of the mysteries of the English language finally explained.
1A type of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.‘bitcoin has become a hot commodity among speculators’‘If you want to buy something using bitcoin you need to make sure the seller accepts the cryptocurrency’
- ‘In October 2010, the price of bitcoin used to be 0.90.’
- ‘With no government backing, Bitcoin has value only so long as enough people agree to use it.’
- ‘People trading bitcoin on the Tokyo-based exchange saw its price hit US $266 at one point, then fall to as low as $105 with high lag times for trades.’
- ‘For example, if bitcoin becomes successful, the way anarchists and hackers like it, it will extremely hard to centralize money ever again.’
- ‘It's still early days, and bitcoin is not without its share of problems.’
- ‘What can I buy with bitcoin?’
- ‘We try and support all the merchants who accept Bitcoin.’
- ‘I paid for my domain in bitcoin.’
- ‘No matter what you call it, BitCoin, dollar, pound or peso, it's all gone virtual and it's all been stolen before.’
- 1.1count noun A unit of bitcoin.‘bitcoins can be used for online transactions between individuals’
- ‘Just two and a half years ago, a bitcoin was valued at 5 cents.’
- ‘The tricky part is the valuation of the bitcoins, which, in 2013 alone, has been as low as $15 and as high as $200.’
- ‘Last week, Reddit announced it would accept the currency for its Gold membership, while a US start-up is taking bitcoins as payment for pizza.’
- ‘Simply put, a bitcoin is an algorithm-based mathematical construct - a unit of measurement invented to quantify value.’
- ‘I've never purchased anything illegal with bitcoins.’
- ‘As prices go up, people who currently hold Bitcoins develop greater and greater expectations for the currency.’
- ‘That's just the moment that hackers - who probably didn't believe their luck at first - got into his network, making off with a cool quarter-million's worth of bitcoins he had in his possession.’
- ‘The transaction may take a few days to complete, but you'll receive a notification when the Bitcoins have been safely transferred to your wallet.’
- ‘In an era of e-tickets, bitcoins and app-based banking, it seems pretty antiquated that we still have to fumble through our wallets for an insurance card each time we go to the doctor's office.’
- ‘Of course, there's no tangible way to value a bitcoin aside from what someone else believes it is worth.’
Early 21st century: from bit + coin.
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