It's not an actual coin, it's "cryptocurrency," an electronic digital type of payment that is made ("mined") by a lot of people worldwide. It allows peer-to-peer transactions... moreIt's not an actual coin, it's "cryptocurrency," an electronic digital type of payment that is made ("mined") by a lot of people worldwide. It allows peer-to-peer transactions quickly, global, free of charge or at suprisingly low cost. Bitcoin was invented following ages of study in to cryptography by application creator, Satoshi Nakamoto (believed to become a pseudonym), who made the algorithm and introduced it in 2009. His correct identity stays a mystery. This currency isn't guaranteed by a tangible product (such as silver or silver); bitcoins are exchanged on line which makes them a product in themselves. Bitcoin is definitely an open-source solution, available by anyone who's a user.All you want can be an email address, Internet access, and money to have started. Bitcoin is mined on a distributed computer system of people operating specialized computer software; the system covers certain mathematical proofs, and looks for a certain data collection ("block") that produces a certain design once the... less