Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain.
Bitcoin is unique in that there are a finite number of them: 21 million.
It is important to remember that the price of Bitcoin is highly volatile and can change rapidly. Therefore, any information regarding the current selling price of Bitcoin should be taken with a grain of salt. Additionally, it is important to be aware that trading or investing in Bitcoin carries a high degree of risk and there is no guarantee of any return on investment. Therefore, it is advised that you do your own research and due diligence before investing in Bitcoin.
Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services.
As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.