Bitcoin miners are optimistic about the future

Karishma Vaswani Dec 21, 2017
HTML EMBED:
COPY

Bitcoin miners are optimistic about the future

Karishma Vaswani Dec 21, 2017
HTML EMBED:
COPY

There’s been a little dip in the bitcoin market this week. The cryptocurrency has dropped about 10 percent against the dollar. Of course, that’s in the face of a 1,700 percent rise in the past year, so those tulip bulb analogies still apply. Speculators, however, (investors, if you prefer) are just one side of the bitcoin equation. The way this thing works is that bitcoins have to be mined, or generated, with computers doing mathematical calculations that are used to verify bitcoin transactions. Here’s a look at one such bitcoin-mining workshop in Singapore.

Click the audio player above to hear the full story. 

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.