The recent rush for mining popular digital currency bitcoin bears some striking similarities to the California gold rush in the mid 19<sup>th century, according to infographic design agency NeoMam Studios.

In January 1848, John Marshall found gold in the American River at Shutter's Mill, leading to a rush among San Francisco residents to pan gold.

Similarly, Satoshi Nakamoto launched bitcoin in 2008, and the peer-to-peer open source digital currency gained in value and popularity, resulting in a rush by enthusiasts who look to generate some quick gains through mining bitcoins.

Bitcoin is generated through a process called "mining", but the miners here use computers and cryptography instead of shovels and buckets used by gold miners.

The digital currency is traded within a global network of computers, and they can be transferred without going through banks or clearing houses, reducing fees involved in the services significantly.

Despite concerns about bitcoin's legal status, a number of high-profile merchants started accepting payments in the digital currency, leading to sky-high values for the alternate money.

Bitcoin value peaked to $1,250 in November 2013, leading to high demand for mining equipment and related services.

NeoMam Studios's infographic comparing the Bitcoin Rush to the California Gold Rush is given below.


\'Bitcoin:

Bitcoin: A Modern Gold Rush? [Infographic] by the team at WhoIsHostingThis.com


NeoMam Studios