Story highlights What is to be made of digital dollars? How does bitcoin work? Might you be able to eat, live and exist entirely through these mysterious moneys? <\/p>\n
Watch CNN's \"Morgan Spurlock Inside Man\" Thursday nights at 9 p .m. ET\/PT <\/p>\n
In the next airing of \"Morgan Spurlock Inside Man,\" the host sets out to examine all the essential elements of this most modern form of currency. And, in advance of Thursday's episode, here are the 5 W's of bitcoin. <\/p>\n
1. What is bitcoin? <\/p>\n
Formal definitions aside, how best to explain money that you can't hold, smell or feel, yet has every bit the purchasing power of paper or plastic? <\/p>\n
In short, bitcoin was designed as a less expensive way to buy and sell goods, all around the world, while dodging pre-exisiting financial institutions. <\/p>\n
\"Its founder wanted to create a global currency that existed outside a central bank or government,\" notes Spurlock. \"Just a person to person system that could be used instantly and internationally.\" <\/p>\n
Void of traditional surcharges and fees, but fluctuating like any other currencies, at the time of Spurlock's quest, one unit of bitcoin was equal to roughly $624 U.S. At present, that value has dropped to $235.85 U.S. <\/p>\n
Either way, at least it won't weigh down your pockets with a ton of silver and copper. <\/p>\n
2. Who uses bitcoin? <\/p>\n
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\nCan Morgan Spurlock live off Bitcoin?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"