The Bitcoin is a virtual payment system, which consists of the national currency and is used worldwide as a kind of universal currency – the Esperanto of the financial world, so one could call the Bitcoin. Advantages have the cash in large quantity. No banknotes need to be printed, no coins made of precious metal, thus saving resources and transport routes. Bitcoin is always available. If you are connected to the system, you can use the PC or the smartphone to do this at any time.
It is a time-saving process which is also characterized by a high degree of transparency. The Bitcoin was developed in a so-called peer to peer system, in which all participants understand themselves as part of the system, and also promote the Bitcoin through the use. Due to its global availability and the peer to peer system, the payment is also a decentralized currency that is not given or controlled by a country. A Bitcoin, unlike bank notes, is counterfeit-proof, so that an abuse can be excluded. Fees that would otherwise be particularly high for a normal transfer with online payment service providers are particularly low in the Bitcoin business. Another positive aspect is the ease of handling;
As with any currency, there are, of course, disadvantages in the possible upward and downward movements in the price development. There are now no absolute values and so also fluctuates here the value according to supply and demand. However, inflation is counteracted by limiting the number of available bitcoins. In summary, the Bitcoin can be seen as a means of payment through the security of counterfeiting, the simplicity of the transfer and the worldwide availability of a great future. Bitcoin implements the global idea in an original and simple way for money transfers.