How much is Bitcoin worth? How can I buy it?
Like any currency, the current value of bitcoin at any given time is in a state of flux, so it is impossible to say with certainty how much your bitcoin is worth without utilizing the services of a site such as https://mining-profit.com and checking the updated information at https://mining-profit.com/bitcoin-price-chart.
As an example, the price of a single bitcoin fluctuated just above and below the $500 USD mark in the month of August 2014. For those who are interested in acquiring bitcoin without mining for them, there are a number of ways to do so.
One way to purchase bitcoin is through a bitcoin exchange. These are services that provide a gateway between individuals or organizations that have bitcoin and those who wish to purchase or invest in bitcoin.
There are a variety of different bitcoin exchanges in existence, and it is important that you do your homework before sending money to any of them. While bitcoin cannot be manipulated the way typical fiat currency can, it is imperative that you do your due diligence to ensure that the exchange you are considering doing business with is legitimate.
On the plus side, the public nature of the block chain means that it is impossible to create bitcoin artificially, and any unscrupulous exchanges or dealers will quickly be exposed by the collective power of bitcoin users.
There are a number of ways to purchase bitcoin through exchanges, including direct wire transfer or the conversion of Second Life Lindens (the virtual currency of the Second Life Virtual World) to bitcoin. Such conversions require small transaction fees, but they are fast and easy ways to purchase bitcoin.
Although bitcoin cannot yet be purchased directly through Paypal (as of August 2014) the company is currently moving towards integrating the bitcoin currency into its online payments systems. Because many retailers, both big and small, are beginning to accept bitcoin, it is likely that Paypal will begin allowing direct transactions using bitcoin before much longer.
As it stands now
Buyers and sellers who agree to use bitcoin as payment for goods and services must facilitate their own transactions.
This is where the services of https://mining-profit.com come in handy, as the price chart at https://mining-profit.com/bitcoin-price-chart can allow both parties to see the current value of bitcoin at any given time.