Bitcoin Basics: What it Is and How it Works (Motiongraphic)

Before you can make up your mind on investment opportunities or the potential to accept bitcoins for online payments, you need to understand just what this new currency is and how it works. While it may seem like this digital-only currency sprung out of nowhere a few months ago, Bitcoin was originally developed in 2008.

In a nutshell, Bitcoin is a decentralized, anonymous, digital-only currency. When first introduced, you could buy over 1,000 bitcoins for $1. The value has skyrocketed since then, and one Bitcoin is now worth just over $100 (click here for a Bitcoin currency convertor). 
Related: A Look at 'Bitcoin' Currency 

For a primer on how bitcoins work, check out the motiongraphic from eBay Deals.

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For Subscribers

FOR SUBSCRIBERSCBP leaders cut out of Trump ad buy decision

FOR SUBSCRIBERSAmerican passenger drafted goodbye texts to her family as Flydubai plane plummeted

FOR SUBSCRIBERSCornell rape allegation pushes embattled New York prosecutor into national spotlight

FOR SUBSCRIBERSAbdul El-Sayed tries to woo MAHA voters as Democrats seek inroads with RFK’s supporters

FOR SUBSCRIBERSKratom-like substances are popping up in a typically benign supplement

FOR SUBSCRIBERSGOP super PAC increases its spending for Sen. Jon Husted in tough Ohio race

FOR SUBSCRIBERSRecords reveal tumultuous marriage between slain New York Times executive and wife

FOR SUBSCRIBERSFrom clean energy warrior to ‘wall of shame,’ James Talarico reverses on a fossil fuel money pledge

FOR SUBSCRIBERSCongressional staff planned official trip with luxury stops in Italy and France weeks before election

FOR SUBSCRIBERSA harrowing ordeal aboard an Israel-bound plane

FOR SUBSCRIBERSOpenAI CEO Sam Altman to skip congressional hearing on rogue AI agents

FOR SUBSCRIBERSKey DOJ lawyers departed Trump ‘grand conspiracy’ probe amid pressure to produce, source says

FOR SUBSCRIBERSTrump’s new AI chatbot often links to a site launched under Clinton 26 years ago

FOR SUBSCRIBERSAt MAHA summit, industry CEOs the movement once vilified take the stage

FOR SUBSCRIBERSThis Paralympian has two goals: Win medals and give away $500,000 to her teammates

Source for motiongraphic: wiki maintained by the Bitcoin community