On Bob Brinker today..

[GFB]

The most interesting part of the show was the special guest.

Typically, Brinker invites someone to come and speak on different financially related subjects during the last hour of the program..the guests do not necessarily share Bob's views.

Today, a person who is was an obvious expert on Bitcoins explained what they are..where they come from..how to get and use them..and how and why there is a finite number of Bitcoins that will ever exist.


..more specifics later.

[planosteve]

The bitcoin has a big flaw. Like fiat money it has no intrinsic value. That is why it will fail.

[GFB]

Anyhow, I can't remember the guy's name, but I think he has a new book out about Bitcoins.

Bitcoins were invented by an anonymous person, who developed a system in which people can "mine" them. To mine for Bitcoins, a person would need to buy some very expensive algorithm equipment that can create new Bitcoins.

12 million Bitcoins exist now, and a total of 21 million are available, which leaves about 9 million yet to be mined.

After that 21 million, there will be no more Bitcoins, but there could be other virtual money created by other people.

If you decide to try using Bitcoins for some online purchases..coinbase.com is one place you can do that.