Introduced in 2009, Bitcoin is an online, digital currency which doesn’t have a central bank or ownership and is often referred to as a peer-to-peer payment system. Bitcoins are generated through a process known as "mining." This involves using specific software to solve maths problems. When a maths problem is solved, the "miner" is rewarded with a Bitcoin. These Bitcoins can then be exchanged for goods and services. Although the number of companies who accept Bitcoins is currently limited, as the currency becomes more well known the number is growing. Bitcoins can also be bought using other currencies. Bitcoin is also a "crypto-currency" which means it uses cryptography to drive the production of Bitcoins and Bitcoin transactions. This makes the currency extremely secure. The "block chain," which is effectively a public book of accounts, is used to check that genuine Bitcoins are being exchanged in all transactions. Bitcoin benefits from no limits of exchange as users can perform instant transactions at an
Bitcoin to Canadian dollar conversion
this page last updated:: Wed 22 Nov 2017
Convert Bitcoin to Canadian dollar
In 1954 a series of Canadian banknotes was released that gave the illusion of a grinning demon behind the ear of the Queen on her hair. These commonly became known as the Devils Head banknotes. The banknotes were consequently modified in 1956 by darkening the highlighted hair on the face plates. In the late 1990’s The Solicitor General of Canada requested the $1000 be withdrawn from production and removed from circulation as it was widely being used in organized crime for money laundering. It was removed from circulation in the year 2000.
Bitcoin to Canadian dollar table