Bitcoin Bitcoin is a digital currency that was introduced in 2009. There is no physical version of the currency, so all Bitcoin transactions take place over the Internet. Unlike traditional currencies, Bitcoin is decentralized, meaning it is not controlled by a single bank or government. Instead, Bitcoin uses a peer-to-peer ( P2P ) payment network made up of users with Bitcoin accounts. Bitcoins can be acquired using two different methods: 1) exchanging other currencies for bitcoins, and 2) bitcoin mining. The first method is by far the most common and can be done using a Bitcoin exchange like Mt. Gox or CampBX. These exchanges allow users to trade dollars, euros, or other currencies for bitcoins. The other method, bitcoin mining, involves setting up a computer system to solve math problems generated by the Bitcoin network . As a bitcoin miner solves these complex problems, bitcoins are credited to the miner. While this seems like an easy way to earn bitcoins, ...