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@hippy
Bitcoin is a digital currency created in 2009 by Satoshi Nakamoto. The name also refers to the open source software he designed that uses it, and the peer-to-peer network that it forms. Unlike most currencies, bitcoin does not rely on trusting any central issuer. Bitcoin uses a distributed database spread across nodes of a peer-to-peer network to journal transactions, and uses cryptography in order to provide basic security functions, such as ensuring that bitcoins can only be spent by the person who owns them, and never more than once.
Bitcoin's design allows for anonymous ownership and transfers of value. Bitcoins can be saved on a personal computer in the form of a wallet file or kept with a third party wallet service, and in either case Bitcoins can be sent over the Internet to anyone with a Bitcoin address. Bitcoin's peer-to-peer topology and lack of central administration make it infeasible for any authority, governmental or otherwise, to manipulate the value of bitcoins or induce inflation by producing more of them.[citation needed]
Bitcoin is one of the first implementations of a concept called 'cryptocurrency', first described in 1998 by Wei Dai on the cypherpunk mailing list.[1][citation needed]
http://en.wikipedia.org/wiki/Bitcoin
http://launch.is/blog/l019-bitcoin-p2p-currency-the-most-dangerous-project-weve-ev.html
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