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What is Bitcoin?

Simply put, Bitcoin is a peer-to-peer currency, much like the pound (GBP) and the dollar (USD), similar to how the pound is only accepted in the United Kingdom, bitcoins are only accepted in the World Wide Web aka the internet and can be used to purchase many goods and services. Then what is all this noise in the news about it recently? This site aims to provide you with that information so you can be a bitcoin expert in no time.

 

The currency of the future?

Bitcoins are still in their infancy stage, so their worth is extremely volatile. One of the most appealing things about bitcoin is that it is completely decentralised, meaning no banks, no federal reserve, you are your own bank. You are free to send bitcoins to anyone in the world at anytime.

Similar to how e-mail allowed us to send letters to anyone in the world for free, for less than a cent per transaction, you can send money to anyone online anywhere in the world.

In 2o13, we saw the price of bitcoin rise an exponential amount, so no wonder it has attracted the attention of the masses.

Here are a couple stories to show you bitcoins worth:

Who created it?

Created by a man, or thought to be a group of people under the alias Satoshi Nakamoto on the 21st October 2008.

Here is a timeline of the history of bitcoin.