Bitcoin is a peer-to-peer decentralized digital currency. It differs from traditional, government-backed currencies in that there is no central issuer, and there are no middlemen involved for various transactions. …

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A small number of real-world and online establishments accept Bitcoin as a form of payment. It’s important to understand that like any other currency, the value of Bitcoin fluctuates all the time. At the time of this writing, Mt. Gox values a BTC at ~$10.75 USD — however that could fluctuate up or down, depending on the Bitcoin market as a whole. …

The Royal Canadian Mint’s MintChip project carries on many of the same ideas as Bitcoin, but in a way that is backed by the mint itself. The MintChip project is still in its infancy but if it works, it could shape the future of Canadian currency. …

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