What is Bitcoin?

Bitcoin is the first, most important and well-known “digital currency” and some call it the version of Internet money. More specifically it is a criptodivisa or cryptocurrency because it is based on cryptography protocol that makes it anonymous money transfer from one person to another, and that you can not spend a coin more than once. The whole process is supported in the P2P network, the same as is used for the famous torrent files.

Satoshi Nakamoto was the one who created the Bitcoin, but it is unknown whether it is a person or group of people who created the protocol and the need to begin using this currency software. Satoshi identity remains completely anonymous. There has been much speculation about who is and the amount of Bitcoins you have in your possession, which varies according to Motherboard million, an amount that in December 2013 was worth about 1,100 million.

Bitcoins are generated using an open source program that solves complex math problems in a process known as “mined“. Each Bitcoin has a public address and a private key, which are long strings of letters and numbers that give a specific identity. This means that the Bitcoin serves two purposes: to be a sign of its value and also the method for transferring value.

What I can buy by Bitcoins?

Since August 2014 many companies decided they began to accept Bitcoins. Some are NewEgg, Dell, Overstock, Zynga and TigerDirect. If you want to donate some money, Wikimedia, Greenpeace and Mozilla Foundation are accepting Bitcoins if you want to help.