Miami Hosts Annual North American Bitcoin Conference

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MIAMI (CBSMiami) -- Thousands of entrepreneurs, cryptocurrency experts and members of the Bitcoin community are down in Miami for an annual conference on the digital currency.

The conference got things started Wednesday at the Clevelander Hotel for a kick-off party. However, the actual two-day event began Thursday at The James L. Knight Center and celebrates Bitcoin, blockchain technology and plans for the future.

Now in it's fourth year, attendees include Overstock.com CEO Patrick Byrne as well as lead panel discussions with bankers and government officials about wide-ranging topics like regulation and digital wallets to cryptocurrency demos for things like Bitcoin vending machines.

Bitcoin uses peer-to-peer technology to operate without a central authority like a government or banks. Managing transactions and the issuing of bitcoins is carried out collectively by the network.