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Exchanges begin to roll out futures contracts tied to it. also bitcoin searches recently surpassing searches for the kardashians but what exactly is this? the short answer, a digital currency that uses technology that keeps in check how many coins can exist independent of a central bank. it can to some extent be used for online transactions as well although nobody knows who invented this. the big question should you invest? i'll leave that to the experts but i will say this. many say that we're in bubble territory and anything that can rocket this high, this fast can also fall this fast. >> it...

Us. richard engel, our chief correspondent for us in jerusalem. and coming up, going from a novelty to a moving market. one bitcoin would have set abou couple years ago, spiked at a record of $19,000 today. this is not going to smooth ride. i'll tell you about it on the other side. so that's the idea. what do you think? hate to play devil's advocate but... i kind of feel like it's a game changer. i wouldn't go that far. are you there? he's probably on mute. yeah... gary won't like it. why? because he's gary.

But watch out for central bankers doing too much, too fast. >> it's always dangerous. get this and read it "the world in 2018." i always do and then people think that i'm smarter than i am. daniel frankens, the senior editor of "the economist." bitcoin has caught the attention of investors. earlier today, bitcoin passed the $19,000 mark before quickly dropping down to a paltry $15,000. there's the chart. the digital currency began the year below $1,000. i want to bring in morgan brennan for about 45 seconds on this. tell me the story. >> the price of bitcoin becomes so stratospheric that it'...

Their spouse's name but there's been blackmail. >> we're also seeing extortion. we also obtained a copy of a letter that hackers were trying to send out and they succeeded in sending out, they were sending out to people on the list. what this letter said if you don't pay me $200, the equivalent of one bitcoin, a digital currency, i will go to your significant other and tell them that you're on this site. you have seven days to do this. if not i'm going to go ahead and tell your significant other. so we thought that this was going to happen and we have officially seen that this is happening. >>...

Cake. plus, wedding parties get 20% off their food bill. 95 bucks, you get married, the cake, and your reception is 20% off. funny money or the currency of the future? we're talking about something called the bit coin. ka kayla tausche is here. explain what that is. >> it's virtual money. you use it on the internet and wherever it is accepted. it's not tied to an economy or political system and it's nearly impossible to trace where it was spent. critics said it was only being used to fund cyberattacks and wikileaks and even terrorist attacks. but after the cyprus problem last month, people s...