A year and a half ago, the idea of buying the virtual currency bitcoin buy was laughable. After a rapid rise in value in 2013, the cryptocurrency’s value more than halved by mid-2015.At its lowest point, one bitcoin was equal to about $230. These days, bitcoin has made a comeback — it recently rallied to over $1,000 before fluctuating wildly. But given the currency’s covert nature, the average person still may not understand how buying and selling actually works. Using the app Coinbase, which lets anyone trade bitcoins for a small fee, we decided to find out. In a recent presentation at the Coinbase headquarters in San Francisco, California, Monero developer Riccardo “FluffyPony” Spagni described a variety of situations where financial privacy is desirable outside of breaking the law. “The thing that a lot of people misunderstand when we’re talking about privacy is that it’s not just about buying drugs,” noted Spagni at the beginning of his presentation. 10162
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