BC_Logo_Bitcoin has been gaining widespread media attention recently – and to be honest, we often get asked about this whenever we’re attending events.

But while to most observers Bitcoin may seem to be a new means of online payment it was first introduced in 2008. Satoshi Nakamoto (presumed to be an alias) is credited with being the founder and the person who released the software that could digitally store, send and receive Bitcoins.

What is Bitcoin?

Just like transferring regular money online – Bitcoins are also exchanged virtually, but do not take on any physical form. Another distinctive feature of the cryptocurrency is that they are traded directly between two people. This means it does not go through any external banks or financial institutions and that there isn’t a single entity controlling it. So instead of being stored in a bank account, Bitcoins are kept in a digital wallet located either in the cloud or on your local computer.

local cloud

To find out more about Bitcoin, we spoke with Venture Capitalist Max Niederhofer – Partner at Sunstone Capital and investor in Last.fm, OneFineStay and GetYourGuide.

Check out the video to discover why the cryptocurrency has been getting so much attention recently – what will it take to go mainstream – and what future holds for Bitcoin.

What are your thoughts? Do you think Bitcoin will be the future of online payments?


PAYMILL Editorial Team

The PAYMILL Editorial Team is working hard to provide you with interesting insights and useful tipps for your daily work. Leave us your feedback in the comments section.