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Bit-coin (BTC) is a brand new sort of digital currency-with cryptographic keys-that is decentralized into your network of computers applied by users and also miners around the world and is not controlled by a single business or organization. It's the first digital cryptocurrency that's gained people's attention and is accepted by a growing number of merchants. Like other currencies, users can utilize the digital currency to buy services and goods online as well as in some physical stores which accept this as a form of payment. Currency traders may even trade bit-coins in Bit coin exchanges.
Bit-coin doesn't need a centralized authority or clearing house (e.g. government, central bank, MasterCard or Visa Network). The peer-to-peer payment system is handled by users and miners round the world. The money is anonymously transferred directly between users through the internet without dealing with a cleaning home. Which means that trade fees are a lot lower.
Bitcoin is created through a process known as "Bit-coin mining". Miners around the world use mining software and computers to solve complex bitcoin investment hyip calculations and also to approve Bitcoin trades. They're awarded with trade fees and brand new bit-coins generated from resolving Bitcoin calculations.
There is a restricted number of bit coins in circulation. According to Blockchain, there were about 12.1 million in flow as of Dec. 20, 2013.
The issue to mine Bitcoins (solve calculations) becomes harder because more bit-coins are generated, and the most amount of flow is capped at 21 million. This makes bit coins more valuable as more people make use of them.