What is Bitcoin?

 Posted by Niladri.Biswas on 6/16/2013 | Category: Others Interview questions | Views: 1416 | Points: 40

Bitcoin is a digital currency (also called crypto-currency or virtual asset) that is not backed by any country's central bank or government. Bitcoins can be traded for goods or services with vendors who accept them as payment. As of this writing, one Bitcoin (also called a BTC) is worth $104 -- but just as with stocks, the value of Bitcoins can fluctuate quickly.
Bitcoins can be spent by initiating a transfer request from a Bitcoin address in the customer's digital wallet to a Bitcoin address in the vendor's wallet. Transactions are conducted through anonymous, heavily encrypted hash codes across a peer-to-peer (P2P) network

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