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Meet Cameron Gray, the man who spends his days sitting next to the world's first bitcoin ATM.

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Now that's what I call a great idea: stand outside your competitor's place with sign that says "I'm cheaper." Long live the free market.

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About bitcoin


Bitcoin is a peer-to-peer payment system and digital currency introduced as open source software in 2009 by pseudonymous developer Satoshi Nakamoto. It is a cryptocurrency, so-called because it uses cryptography to control the creation and transfer of money. Conventionally, the capitalized word "Bitcoin" refers to the technology and network, whereas lowercase "bitcoins" refers to the currency itself.

Bitcoins are created by a process called mining, in which participants verify and record payments in exchange for transaction fees and newly minted bitcoins. Users send and receive bitcoins using wallet software on a personal computer, mobile device, or a web application. Bitcoins can be obtained by mining or in exchange for products, services, or other currencies. 

Video - How Bitcoin Works Under the Hood

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