What is Bitcoin?


Bitcoin is a new technology designed to make money easier to use, more convenient, and also protect a person’s identity. It’s the first decentralized electronic currency transferred from person to person without going through bank or clearing house. It combines military-grade codes with the latest in computerized accounting. The resulting invention greatly improves on the banking systems that originally combined IBM computers with telegraphs. While banking has improved somewhat with faster computers, it still required them to be owned and maintained by trusted bankers. Bitcoin is not controlled by a single organization or government. With Bitcoin, you can use your own computer, your own internet connection, and like the cash in your pocketbook, your computer keeps track of your account, yet can be every much as secure as the strongest bank vault. Your purchases can be next door or across the globe.