What is bitcoin, how does it work and what affects its price?
Few technologies have the ability to stir passionate online debate and baffle the vast majority of the population as bitcoin. The virtual currency has been a constant source of interest and confusion since it thrust itself into the mainstream more than five years ago.
But interest in Bitcoin is now greater than ever, with its sudden crash several months ago from $20,000 to under $7,000 – at one point dropping more than 50 per cent in little over a month – renewing a surge of trading, speculation and worry.
But why? Is Bitcoin the future of currency? Is it currency at all? What is it for? And should I buy some?