Bitcoin is a crypto currency traded online that is unregulated and ultimately anonymous. Although all transactions are recorded the name associated is up to the user so nobody can track who is actually sending the money just that a transaction took place.

Bitcoin is traditionally used for illegal purposes such as drug sales or money laundering

But it is all a free payment method that can be used to be exchanged for currency

Main uses

1. Illegal activity

2. Free payment method sort of like paypal

3. Free Currency exchanger with no fees

Crypto Currency basically means digital currency

One of the most valuable things about bitcoin is that transactions are irreversible making charge backs impossible.

it is a coin that someone tried to eat. They thought it was one of those chocolate coins and they were wrong.

http://www.techsecs.co.uk/blogs

It is a fallacy that bitcoins are mainly used by criminals (money laundering).

It is not free. There are transaction charges and in UK 20% VAT is charged.

Most articles you find on the internet contain lots of mis-facts. That's why I gave the link above.

It's part of a coin. Ie, not a full coin.

It is an attempt to create currency, backed by no tangible assets. So it has a lot in common with the US dollar (once backed, now not).

Stay away from bitcoin

Take Care

It's a great investment. You should buy some

already history

http://en.wikipedia.org/wiki/Bitcoin

https://www.google.com/#q=bitcoin+bank+c...