There are many Internet or digital currencies and the Bitcoin is one. Unlike the traditional currencies these are not controlled by any Central authority bank or government but by the users of a network. Bitcoin being a decentralized currency is controlled by the network of users.
The working mechanism is pretty simple like the traditional currency people pay for goods and services however the differences that every transaction is recorded and later publicly available on a lesser known as no option before this availability transaction is verified by the miners. - are the Bitcoin users who received new Bitcoins because of their mining.
To make the system stable escape is being imposed on the maximum number of Bitcoins produced.
retailers now accept Bitcoin as a currency The value of the coin is determined by the will of the people that how much they are willing to pay against a single Bitcoin 6 years ago in April 2011 the value of the Bitcoin was 75 cents in December 2003 this value of 12 $1,200 and the current value of Bitcoin is more than $4,000
