What is Bitcoin? I am often asked that question. Bitcoin is a form of electronic currency. Just like you can use PayPal to pay for an online order, you can now use Bitcoin at more and more locations to make online purchases. But, unlike PayPal, which is linked to your bank account, Bitcoin doesn't involve the banks at all. Bitcoin is a decentralized currency, meaning there is no one person or entity that controls it. The whole Bitcoin "universe" is distributed across hundreds of thousands, if not millions of peer-to-peer networked computers. There is no one bank, country, or server that could fail and take down Bitcoin. Traditional money is called a "fiat" currency. Fiat currency is money that a government has declared to be legal tender for a country. Bitcoin is not a fiat currency. If you Google your questions you'll find lots of different answers to it. It is worth taking the time to read through some of them. Here's a shor...