Toronto Bitcoin

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Finding a place to get bitcoin in Toronto is still a little bit difficult. Feel free to add to this list

Meetups

Toronto Bitcoin Group - http://www.meetup.com/Bitcoin-Toronto/
Local Bitcons - https://localbitcoins.com/location/CA/Toronto/

Virtual Exchanges

Canada Virtual Exchange - https://www.cavirtex.com/home

Bitcoins

Bitcoin is a decentralized digital currency. It is a peer-to-peer internet currency created by a mysterious developer named Satoshi Nakamoto in 2009. The currency exchange rate is currently 1 BTC ~ $72 USD.

Bitcoins can be exchanged between personal computers without a intermediary. Bitcoins are stored in an individual’s electronic “wallet”.

Bitcoin has no central bank. The money supply is increased at a predetermine rate until a hard limit is reached (approx in the year 2140).

As of March 2013, the monetary base of bitcoin is ~ $600M USD.

There has been much criticism of bitcoin being a Ponzi scheme, a speculative currency and the currency of money launders and drug dealers.

Bitcoin exchange

Mt Gox based in Japan is the best known and the market share leader in exchanging bitcoin to traditional currency. At the time of writing it transacts in approximately 80% of all Bitcoin daily volume. Bitcoin daily volume is in the range of $100K – $200K / day. mtgox.com

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