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Bitcoin (BTC) - it is virtual money - the world's first cryptocurrency different from all other existing electronic currencies and payment systems, which are created under a pseudonym an unknown programmer Satoshi Nakamoto. This happened in 2009, the term "Bitcoin" and specificity (Bitcoin algorithm), it was he who came up with. No one knows where the programmer and his name. He created not only code, but also a special programa - a purse that contains cryptocurrency Bitcoin on your computer, Bitcoin has the basic functions and properties of conventional money: a medium of exchange; savings; The unit of account. However, Bitcoin is a virtual money. Cryptocurrency and Bitcoin Wikipedia describes in the following way: cryptocurrency - type of digital currency. Its emissions and accounting on the basis of different encryption methods. But the operation is performed in a decentralized, distributed network.
"Bitcoin" (English the Bitcoin, from bit "bits" + coin "coin.") - Peering payment system that uses the same name unit of account - Bitcoin
The goal of the developers was to create a system completely irreversible transactions when the electronic payment between the two sides there is no third-party guarantor, and none of the parties, including any external administrator (bank, tax, court and other state bodies), could not be cancel, block, challenge, or forced to commit the transaction. To maintain and protect the system uses cryptographic techniques, but all the information about the transaction is not encrypted and is always available in an open format.
Various authors differently classified bitcoins. The most common options are: cryptocurrency, virtual currency, digital currency, electronic cash.
Bitcoins can be used in exchange for goods or services from sellers who are willing to take them. A digital currency exchanger, other payment systems or exchangers are exchanged into ordinary currency.
For the conduct of operations, the Commission shall be appointed by the sender voluntarily, commission rate affects the priority for processing the transaction. Transactions are processed without commission slower, but still are handled.
One of the main features of the system - full decentralization: there is no central administrator or any analogue thereof. A necessary and sufficient element of this payment system is the core client software (open source). Running on multiple client computers programs are connected to each other in an ad hoc network, each node of which equal rights and self-sufficient. It is impossible to state or private management of the system, including changing the total amount of bitcoins. It is known in advance the amount and time of release of new bitcoins. But they are relatively randomly distributed among those who use their computing equipment (of mining), the results of which are mechanism-specific regulation and confirm the eligibility of operations in "Bitcoin" system - a method of proving performance.
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