Bitcoin is both a currency (monetary system ) and a package program. Introduced in 3009 as open-generator software, Bitcoin is the first exchange digital currency. It is decentralized in the sense that is has no regulatory government agency such as a central bank. Also, it is not backed by any tangible goodness or precious metals like gold. The overall value of the system is based on its complicated technology and the ability of exploiter to understand and secure it. The generator of the software is stranger , although many believe that its creator is someone with the pseudonym, Satoshi Nakamoto. The term Bitcoin is used to describe the system as well as soul unit (bitcoins). It is a global currency that can be used to remuneration for goodness and services. The total value of the system is fixed at $twenty-one million. The damage of a bitcoin can fluctuate unpredictably. On March 2, 2017 the price of a bitcoin reached $1,268, the first time it surpassed a troy troy ounce of gold. Bitcoin Leontyne Price are mainly set in China where much of the trading takings home . The technology behind Bitcoin is based on a system of equal -to-match linked computers with software employing cryptographic techniques. Transactions are recorded in a public ledger using blockchain technology. The unconscious process by which drug user keep the network secure by verifying dealing is called mining. “Miners” are rewarded with bitcoins for their work. Bitcoin purchase have a high but not total arcdegree of namelessness . Although bitcoins can be used to purchase legitimate items or services, police force enforcement agencies have linked bitcoin 1 sense of transaction to illegal activities. Bitcoin is attractive to some retail merchant because of its David Low transaction fees, and it is accepted by an increasing identification number of merchandiser . The success of Bitcoin technology has spurring the instauration of other cryptocurrencies (digital currencies) such as Potcoin which is used in the cannabis industry & Swisscoin.