Bitcoin is an online currency and a new kind of money. It can be used to pay for things electronically and, like cash, it’s very difficult to trace who owns them or what you buy with them. It’s very volatile in its price and can often be used for illegal activities. It doesn’t have much use by mainstream society, but that doesn’t mean it is without value – after all, you could always trade it for the traditional currencies like US dollars or Euro. If a government decides to become more Draconian with physical currency, Bitcoin could easily take over as the country’s main currency.
