Bitcoin Bit is a digital asset and a payment system invented by Satoshi Nakamoto. Transactions are verified by network nodes through cryptography and recorded in a public dispersed ledger called a blockchain.
Bitcoin Bit was created in 2009 as an open source project.
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 bit as payment.
Bitcoin Bit has been called “a digital gold standard in the financial industry.” Its high level of security, anonymity, and decentralized nature have made it a popular Target for criminals and terrorists.