Bitcoin, the digital money
You once heard it in the news or read in the newspaper for sure. Bitcoin, the new payment method. What is Bitcoin? Bitcoin is an international cryptographically money expressed in BTC, XBT or the currency symbol in the orange logo. It's digital money with its own currency like there is the Dollar or the Euro. Bitcoins will never be used in physically way because it's the intention to pay digital. The best way to compare it is with a virtual wallet in your computer or smart-phone where Bitcoins are in that can be used to pay digitally. Some stores already support this digital payment method. How does it work? Bitcoins are collected and stored in a wallet file that is managed by a third party, called a wallet service. Via the Internet money can be transferred between anyone who owns a Bitcoin-adres. The electronic money makes use of a database that is spread across nodes of a peer-to-peer network to keep track of the transactions. Bitcoins are also protected by cryptograph...