Tag: Cyprus

News

“Bitcoin” Is A New Type Of Money

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Bitcoin sounds like what it is–a type of money.

But it’s a special kind of money that could not exist without the Internet. It is digital and virtual; people can’t carry it around in their pockets or keep it in a bank.

Despite these differences from traditional money, there are places around the world that are starting to accept bitcoins to pay for things.

Some restaurants and shops in New York and San Francisco accept bitcoins, and so does WordPress, a blogging website.

A man in Alberta is offering to sell his house for bitcoins instead of Canadian dollars.

Bitcoins have been around for a few years but are becoming more popular.

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Politics

Cyprus The Latest Country To Get A Bailout

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Cyprus is the latest country to require a financial “bailout” from other European countries to keep its banks and economy from collapsing.

Like Greece, which was bailed out of an economic crisis last year, Cyprus is one of 17 countries in Europe that uses a type of currency, or money, called the Euro.

The problems for Cyprus began with the country’s banks, which loaned money to people who didn’t pay it back. Governments of other countries that use the Euro became nervous that Cyprus banks would fail if they were re-paid, and that the problems could spread to their countries.

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