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What is Bitcoin? Bitcoin is a digital token that can be sent electronically from one user to another, anywhere in the world. Bitcoin is also the name of the payment network on which the Bitcoin digital tokens move. Some people differentiate between Bitcoin capitalized, as the token, and bitcoin lowercase, as the network. Unlike traditional payment networks like Visa or American Express, no single company or person runs the Bitcoin network. Instead, it is a decentralized network of computers around the world that keep track of all Bitcoin transactions, similar to the decentralized network of servers that makes the internet work. Because there is no central authority running Bitcoin, no one has the authority to force new users to reveal their identities. The network was designed this way to create a currency and a financial network outside the control of any government or single company. The computers that join the network and track Bitcoin transactions are motivated to do so

How to buy, send and invest in the digital currency “Bitcoin is the beginning of something great: a currency without a government, something necessary and imperative.” Nassim Taleb, author of The Black Swan How do people use bitcoins? It is an electronic or digital currency that works on a peer-to-peer basis. This means that it is decentralised and has no central authority controlling it. Like currency notes, it can be sent from one person to another, but without a central bank or the government attempting to track it. The system depends on cryptography to control the creation of the currency. While no one authority controls the generation of the coins or tracks them, the system itself is designed in such a way that the network maintains a foolproof system of the record of every transaction as well as tracking issuance of the currency. The beauty of this cryptocurrency is that if you receive a bitcoin from another, you can be as sure of the payment as you would on receivi