BITCOINS (BCT) are the World’s first Crypto-currency, and the first to succeed. In just twelve or so years, BITCOINS have swept the financial kingdom of “Real” Money aside, and are well on the way to becoming a Prime medium of transaction on Planet Earth. Other compatriots have followed suit, like Eutherium, EOS, Litecoin and so on. This currency is basically a digital asset, with no existence in the “Real” world at present, other than coupons, and some artificial coins which actually safekeep the address. It works as a medium of exchange, and uses the most powerful , or intcryptography to ensure the security of financial transactions from external intrusions or alterations or internal manipulations.
BITCOIN exists only as a cryptographic file in the virtual domain. In many ways it behaves like Real or “Fiat” Money, in that it has fungibility. One Unit is fully interchangeable with another Unit of same face value. It is also fully fungible to its parts. That means it does not lose total value even if broken down, that is, the total sum of all its component parts have the same value as the original whole. In this, a BITCOIN behaves exactly the same way as does “Fiat” Money. The cryptographic nature, along with the leveraging by BLOCKCHAIN database for each BITCOIN file that records all previous transactions with date and details, ensures that BITCOIN transactions cannot be hacked or duplicated. A free bitcoin is equivalent to any other BITCOIN, even if Mined, exchanged or created.