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Bitcoins explained

PR dla Zagranicy
John Beauchamp 11.08.2014 10:10
  • Bring on the Bitcoin... A report by John Beauchamp.
  • Reporter John Beauchamp speaks to the Bitcoin Embassy's Maciej Ziółkowski on the costs and rewards of Bitcoin mining.
Bitcoin, a relatively new digital currency, is taking the world by storm, not least in Poland.

The Bitcoin Embassy in Warsaw
The Bitcoin Embassy in Warsaw. Photo: JB

Instead of paying or being paid with your regular dollar bills or zloty notes, you can now opt for Bitcoin, a decentralised currency which has no central bank, no central system, and is purely run by thousands of peers – servers around the world which process payments and also exchange offical currencies into bitcoin.

Our reporter John Beauchamp looks into this virtual currency, and also pays a visit to Europe’s first Bitcoin embassy in downtown Warsaw, where he met Maciej Ziółkowski. He tells us all about Bitcoin, and if you want to know more about Bitcoin mining, there's a bonus audio at the top of this page.

At the Bitcoin Embassy
Reporter John Beauchamp with the Bitcoin Embassy's Maciej Ziółkowski and the Bitcoin ATM. Photo: JB

We also talk to Anna Spysz from Bitspiraton.com,a Polish tech blog based in Kraków. They have written up on the beginnings of Bitcoin in Poland, and their article can be found here. We also speak to Tomasz Snażyk, a lawyer who deals with IT startups.

For those interested, you can find out more about Bitcoins in this video from Elite Daily.

This report uses sounds used under the cc licence: freesound.org users sir-smith; djduppy

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