WTF Are Bitcoins? What You Need to Know About the Online Currency

Lisa Raphael
May 16, 2014

It’s all about the bitcoins, baby — at least in 2014 it’s been sometimes about the online-only currency as it’s taken the leap from Deep Web to campus cash. If you’ve found yourself Googling, Yahooing or Ask Jeeves-ing “what the heck is bitcoin?” or “wait, is it ‘a bitcoin’?” we have a cheat sheet for you that might answer at least a couple of your burning Qs. Or get you asking even more, because we like that sort of stimulating convo around here.

Are bitcoins money?
Yes, bitcoin is a virtual currency! You can buy things with it. Not all things, a lot of things and way more things than you could as recently as last year.

So… bitcoin is a coin?
Bitcoin, the proper noun, is the payment network and bitcoin (lowercase style) is the unit of digital currency. Don’t let the picture we used here fool you, bitcoins can’t get stuck at the bottom of your purse or between the cushions of your couch.

How does the government feel about bitcoins?
Well, not great. They’re not involved with Bitcoin, which is decentralized and not controlled, created, or regulated by them or any central body. Instead, the currency is controlled by those who have it and use it. You can buy bitcoins on different websites by wiring money to someone else who has bitcoins, and you can sell them the same way. Once you’re flush with the dot com dough, you can stash your bitcoins in an “online wallet” on a secure third-party site.

Wait, isn’t bitcoin bad?
No, it just used to be an underground currency used to buy often bad things off of Silk Road, an illegal online marketplace. But now that the currency is reaching a mainstream audience, it also wants to clean up its rep. Here are a few things that might make Bitcoin seem more normal:

There Are Bitcoin Debit Cards: Xapo is a company that gives you an online vault to store your bitcoins and now they’re offering up a way for you to take your bitcoin wallet offline and purchase things in your day-to-day. Like… coffee, groceries — anything you would normally buy with plastic.

There Are Bitcoin ATMs: If you already have the virtual money, you can visit a bitcoin ATM that lets you use your bitcoin stash to take out cash. There aren’t that many and none in the US yet but a Canadian bitcoin ATM saw 81 transactions in its first day. Not too shabby.

There Are (Well, Could Someday Be) Bitcoin Pricetags: One designer-hacker set out to solve the problem of bitcoins’ changing rates. If the currency becomes as popular as the USD, we could see these pricetags on merchandise displaying a value that changes in real time.

Every MIT Student Gets $100 in Bitcoins: Remember “Campus Cash”? This is different. It does not come from your mom and isn’t only good for the best dorm caf’s pasta bar or sweatshirts with your logo on them. In the hopes of jumpstarting the bitcoin ecosystem, undergraduates at MIT will be given $100 worth of bitcoins this fall in a project led by a student and funded in part by an MIT alum.

You Can Survive on Bitcoins Alone: At least for a week. Forbes staffer Kashmir Hill tried out the experiment last year and couldn’t pay rent or feed herself every day. A year later and it’s a lot easier to survive. And survive well — her bitcoin-funded adventures this time around include Stumptown cold brew coffee at breakfast and a wine tour on the weekend.

Politicians Can Collect Bitcoins: This is not a House of Cards Season 3 subplot, but it might be. The Federal Election Commission will allow political committees to accept bitcoin donations in federally regulated campaigns.

There Is an Expedia For Bitcoins: From limos to nice hotels, you can book a pretty luxe little vacay using only bitcoins. Website Travel for Coins lets you book an entire trip through Expedia using the virtual currency and sites like cheapair.com accept them as well.

The more you know, right?

What questions do you have about bitcoins? Did this help at all!? Sound off below!

“Protective” Peter Gallagher Is “So Grateful” Mischa Barton Survived “Toxic Fame”

No matter what kind of day you're having, Marissa Cooper's having a worse one. Mischa Barton's The O.C. character went through the ringer during the first three seasons of the teen drama (remember how she overdosed in Tijuana...and also saw her parents post-hookup after their divorce?).

And during her time on The O.C., Mischa Barton struggled with drug and alcohol abuse. She was arrested for a DUI in 2007 and eventually received involuntary psychiatric hospitalization in 2009 after allegedly threatening to end her own life. And in a new interview, Peter Gallagher (who played Sandy Cohen on the show) says he's "just so grateful" for "the fact that she’s still alive."

  • Mischa Barton starred alongside Peter Gallagher in The O.C. from 2003-2006.
  • The actress has revealed the "trauma" of being a star at that point in her life.
  • Peter recently opened up about how he's thankful "she’s still alive."


Dimitrios Kambouris/Getty Images for FLC/John Lamparski/Getty Images

The O.C. follows Ryan Atwood, who moves in with the Cohens after getting kicked out of his mom's house, and starts a relationship with Marissa shortly after. While Peter Gallagher played Adam Brody's TV dad instead of Mischa's, Sandy was a definitely father figure for Marissa, and it seems like Peter felt that same responsibility off camera.

"I’ve always felt very protective of her," Peter told The Independent. "First fame is toxic. First fame can kill you. She was 16 years old when she started working with us, so just the fact that she’s still alive, I’m just so grateful."

“You can go to therapy every day for the rest of your life,” Mischa said in a 2023 interview with The Sunday Times. “There’s just a certain amount of trauma [from] all that I went through, particularly in my early twenties, that just doesn’t go away overnight.”

Josh Schwartz and Stephanie Savage revealed that season 1 overdose not only served as a cliffhanger, but gave “network executives an escape hatch on a performer they had been wary about” (via People). But Mischa Barton got her big break, becoming "how people knew the show," and (thankfully) Marissa recovered — only to die after a car crash in season 3.

As hard as that season 3 ending is to watch, Mischa did have the opportunity to watch it with Rachel Bilson and Melinda Clarke for the first time on their rewatch podcast. "It needed to be a thing, after everything she's been through, but if it's here I'll watch it with you," Mischa says.

"I couldn't do it, Mischa, I couldn't do it," Rachel adds. "But I'm going to do it if you're going to do it."

Mischa says even though being written off the show "was a little bit of a bummer," it wasn't necessarily a surprise. "The character was just doing too much," she told Vanity Fairin 2023. "And I think they ran out of places for her to go. It was not the best thing in the world, [but] there wasn’t much you could do at that point. It was whether she could sail off into the sunset, or die. At that point, I guess it’s better to have the more dramatic ending.”
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See Dylan Sprouse & Barbara Palvin's Dreamy Halloween Costume: "My Forever"

Former Disney Channel star Dylan Sprouse and model Barbara Palvin are certainly living the sweet life after tying the knot in Palvin's native Hungary. The couple, who have been together for nearly five years, have always been pretty low-key — except for the occasional and undeniably adorable Instagram post (and a stunning wedding!). We are simply ~obsessed~ with this celebrity couple, especially after they pulled out all the stops for their couple's Halloween costume. Keep scrolling to see some of their best moments :').

See Dylan Sprouse & Barbara Palvin's Halloween Couple's Costume!

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A post shared by Barbara Palvin (@realbarbarapalvin)

For Halloween Dylan Sprouse and Barbara Palvin stunned as the Phantom and Christine from Phantom of the Opera. Dylan wore a mask and a black cape, while Barbara wore a beautiful white dress. While the costume is obviously a nod to the musical, it also totally reminds us of their day as bride and groom.

"In Sleep He Sang to Me," Barbara said in a post, quoting the musical's titular number. "@dylansprouse my forever Phantom."

Who did Dylan Sprouse marry?

www.instagram.com

On the couple's wedding day (July 15, 2023), Barbara wore a Vivienne Westwood wedding gown to celebrate her Hungarian nuptials, bringing together their nearest and dearest for an intimate(-ish) celebration. Barbara and Dylan tied the knot on her parent's property, which conveniently doubles as an event venue, with plans to host an larger wedding in California in the fall.

"This past weekend was supposed to be an intimate event, but we ended up having 115 guests in the end because there are a lot of people we care about, and we wanted them all to be there," Barbara told Vogue.

When did Dylan Sprouse and Barbara Palvin get engaged?

www.instagram.com

Barbara Palvin on Instagram: "♥️"

After months of speculation surrounding the couple's engagement, Dylan and Barbara confirmed their engagement in conversation with Sprouse's twin brother, actor Cole Sprouse, for V Magazine in June, sharing that they got engaged last September.

"We didn't necessarily feel the need to be fully transparent with the public about that aspect of our engagement," Dylan said. "What we wanted to do with Stephen [Gan, V editor-in-chief] and the V team is make something that was kind of tongue-in-cheek about the nature of private versus public. We're playing with the idea of perception."

Barbara noted that the lovebirds wanted to announce the news "on our time," adding, "When some people leaked the information that we got engaged, our PR team was like, 'Hey, so you guys should do maybe a post about it or talk to this magazine or talk to that magazine…' That really annoyed me because I knew we were building this story up. So, I'm very happy that we ended up doing it our way."

When did Barbara Palvin and Dylan Sprouse start dating?

Sean Zanni / Stringer / Getty Images Entertainment

See Dylan Sprouse & Barbara Palvin's Dreamy Halloween Costume: "My Forever"

According to People, the couple met back in 2017 after a party when the Suite Life On Deck star slid into the model’s DMs (and as they say, the rest is history). The duo made their relationship Instagram official back in 2018 with Barbara’s sweet birthday tribute for Dylan’s 26th birthday.

Let’s be real here for a second though, we all knew they were endgame the minute Dylan went above and beyond to support Barbara at the Victoria Secret Fashion Show that same year (remember this viral video?). Three days after the fashion show, the Hungarian model told Vogue Australia that she hadn’t had a boyfriend in six years, but had now found “the perfect guy” in Dylan (we aren’t crying, you are).

How old are Barbara Palvin and Dylan Sprouse?

Vittorio Zunino Celotto/Getty Images

Barbara Palvin was born on October 8, 1993, making her 31 years old. Dylan Sprouse was born on August 4, 1992, meaning he's 32 years old. So there's only a one-year age gap between them!

Stay up to date with all of Brit + Co's favorite celebrity relationships. Let us know your thoughts on Twitter!

This post has been updated.

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Elle & Dakota Fanning Will Collab On Apple's 'Margo's Got Money Troubles'

2017's The Beguiled gave us one of the best groups of people of all time: Elle Fanning, Nicole Kidman, Sofia Coppola, and Kirsten Dunst just to name a few. And we're finally getting an Elle and Nicole reunion thanks to Apple TV+! "THRILLED to bring @rufithorpe genius hysterical heart-wrenching heartwarming book to your TV screens alongside a dream group of people!" Elle says on Instagram. Rather than having to test the success of its pilot, the series has already been ordered — even though the book it's based on isn't even out yet! Here's everything you need to know about the series.

  • Dakota and Elle Fanning will produce the upcoming Apple TV+ show Margo's Got Money Troubles.
  • The series follows Margo, who signs up for OnlyFans after learning she's pregnant.
  • The cast includes Elle Fanning, Nicole Kidman, Michelle Pfeiffer, and Nick Offerman.

Who's in the Margo's Got Money Troubles cast?

Amy Sussman/Mike Coppola/Getty Images

Margo's Got Money Troubles Cast

We couldn't contain our excitement when we learned Margo's Got Money Troubles will star Nicole Kidman and Elle Fanning, but knowing Michelle Pfeiffer is also joining the cast is too much to bear! This is the first time the actress will collaborate with her husband, TV creator David E. Kelley, so we can't wait to see the magic they'll create (via Deadline).

Nick Offerman from The Last of Us and Parks and Rec will also star.

When is Margo's Got Money Troubles coming out?

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Margo's Got Money Troubles Release Date

We don't have an official release date for Elle Fanning and Nicole Kidman's TV show yet. I'm thinking if the TV show is in the early stages of planning, we could see it in 2025! Check out all of this year's best New TV Shows to hold you over until then.

What is Margo's Got Money Troubles about?

Amazon

Margo's Got Money Troubles Plot

Margo Millet is the daughter of a Hooter's waitress named Shyanne (Michelle Pfeiffer) and an ex-wrestler (via Deadline). She's always had to make it on her own, even though she's not sure how. When she enrolls in her local junior college, she's totally unprepared to get swept up into a torrid love affair with her English professor — or to get pregnant.

Now at 20 years old, Margo needs an income and fast. She decides to experiment with OnlyFans and ends up taking some of her estranged father's advice from the world of wrestling to create a character users will fall in love with. You can order the book now!

What is Elle Fanning and Nicole Kidman's new TV show?

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Margo's Got Money Troubles is coming soon to Apple TV+ thanks to a bunch of different producers. A24 is backing the film, as well as Elle and Dakota Fanning’s production company Lewellen Pictures and Nicole Kidman’s Blossom Films, to name a few.

What else has Elle Fanning and Nicole Kidman starred in?

Focus Features

Elle Fanning and Nicole Kidman starred in 2017's The Beguiled. The movie follows John McBurney, an injured Union soldier, who winds up at a female Southern boarding school after deserting the Civil War. But soon, as the women help him, tensions turn to rivalries and friends turn to enemies.

Are you excited for Elle Fanning and Nicole Kidman's TV reunion? Let us know what other New TV Shows you're watching in the comments.

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This post has been updated.

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