What is Bitcoin?

Bitcoin is an experimental, decentralized digital currency that enables instant payments to anyone, anywhere in the world. Bitcoin uses peer-to-peer technology to operate with no central authority: managing transactions and issuing money are carried out collectively by the network. The original Bitcoin software by Satoshi Nakamoto was released under the MIT license.

Most client software, derived or "from scratch", also use open source licensing. Bitcoin is one of the first implementations of a concept called crypto-currency which was first described in 1998 by Wei Dai on the cypherpunks mailing list.

Building upon the notion that money is any object, or any sort of record, accepted as payment for goods and services and repayment of debts in a given country or socio-economic context, Bitcoin is designed around the idea of using cryptography to control the creation and transfer of money, rather than relying on central authorities. (Source: Wikipedia)

Bitcoin is now a days gonna be used much more by all kind of different web shops and stores.

For example the big web shop Amazon are gonna implement Bitcoin in the near Future.

Geeks have had their own “money” for some time, but typically it is within the context of online gaming. While this digital currency does possess intrinsic value, the market for it is usually limited to other gamers. However, 2009 gave rise to another form of digital currency, bitcoin, which has demonstrated some global demand as a medium for exchange.