Bitcoin

Prior to the Great Depression, mortgages were primarily short term and had to be refinanced when their terms expired. Foreclosure was common and something had to be done. The federal government took note and the fixed rate mortgage was born. The fixed rate long term mortgages introduced were self-amortizing, that is, by the time their…

You may have heard the term as it is now floating around in the ether. Bitcoin. What is it? I looked the term up on the Internet and CNN provided the following definition: “Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made…