What is Bitcoin?

Bitcoin is an electronic money created in 2009 by Satoshi Nakamoto. The name is also associated with open source software that he designed, and also uses peer-to-peer without centralized storage or sole administrator in which the US Treasury called the bitcoin a decentralized currency. Unlike currencies in general, bitcoin does not depend on the trust major publishers. Bitcoin uses a distributed database and spread to the nodes of a P2P network to journal transactions, and using cryptography to provide security functions of the base, such as ensuring that the bitcoin-bitcoin can only be spent by people have it, and should never be done more than once.

Design of Bitcoin allows for ownership without identity (anonymous) and transfer of wealth. Bitcoin - bitcoin can be stored on a personal computer in a file format wallet or stored by a third party wallet service, and despite all that Bitcoin - bitcoin can be sent via the Internet to anyone who has a Bitcoin address. Topology of the peer-to-peer bitcoin and the lack of a single administration makes it impossible for the authority, any government, to manipulate the value of a bitcoin - bitcoin or cause inflation by producing more bitcoin.
Bitcoin is one of the first implementations of the so-called cryptocurrency, first described by Wei Dai in 1998 in cypherpunks mailing list.