Imagine cash that doesn't physically exist, but does exist in a virtual world , the internet. You'll be able to buy and sell things, like it was the real thing, and the whole world would use the same currency. Bitcoin is a peer to peer (P2P) virtual currency that has no central authority to issue new money or keep track of transaction. Instead, these tasks are managed collectively by the nodes of the network. Your computer creates more bitcoins, and anyone can create it. They estimate the total number of coins that can be created will be 21,000,000,000. Some advantages of bitcoins is it's decentralized, anybody can create a limited supply, but it is difficult to create. Money is about trust, and that seems to be a huge factor for the startup currency. But who know's the concept seems to be there, but how secure is it? Will this idea really work, or will it just be phased out?
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