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A digital or virtual currency that uses peer-to-peer technology to facilitate instant payments.
Bitcoin is a type of alternative currency known as a cryptocurrency and it uses cryptography for security, making it difficult to counterfeit.
Bitcoin issuance and transactions are carried out collectively by the network, with no central authority.
The total number of Bitcoins that will be issued is capped at 21 million to ensure they are not devalued by limitless supply.
They are divisible to 8 decimal places; Bitcoin fractions are called satoshis.
Users store their Bitcoins in a digital wallet, while transactions are verified by a digital signature known as a public-encryption key.

“The term Bitcoin was
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It attracts many users because Transaction are anonymous
Bitcoin bank Flexcoin shuts down after it lost bitcoins value
 Vietnam restricts use of bit coin, the government of Vietnam has banned its banks from using bit coins stating that virtual currency is not a legal tender in the communist nation .They also started that the ownership ,trading and use of bit coin carry potential threats for its uses.
 RBI asks people to be cautious about bit coins. The RBI cautioned the people of India regarding certain concerns about bit coin as the virtual money has extremely appreciated and depreciated in the current months. The RBI also stated that regulations come only when people are doing certain business and we come to understand that something wrong has happening.
 For bit coin to be succeeded, it has to embrace the government.
According to a report written by Mr. Joe Noura stated that bit coin is a new form of payment system which is not connected to any currency or government

In the wake of the global economic crisis, Bitcoins has emerged as an alternative money system, which sidesteps the banks and gives the influence back to the individual. The initiative has a lot of critics as well as supporters, but regardless of whether Bitcoins succeeds as a money system, it has already had a great influence on our future understanding of money.
The sudden rise-and-fall of Bitcoin has made lots
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