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An electronic currency, which consists of cryptographic proofs-of-work, that can literally, verifiably, and securely transferred the over the internet from a buyer's bitcoin client (app, software) to a seller's without the aid of a mutually trusted third party (e.g., paypal or credit card bank, who traditionally collects a fee for this trust).
Western Union will charge you almost 5% to transfer $20,000 to India. They won't even let you do it in a single transfer since it is too big, and they'll hit you with an unfavorable exchange rate. Why don't you just send your vendor some bitcoin?
by nicky_steves April 13, 2013
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2
A crypto-currency allowing for anonymous transactions and using a decentralized architecture. Go Nanotube!
Nanotube was able to purchase many goods and services with Bitcoins, without the gubmint watching.
by cusipzzz January 05, 2011
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3
Bitcoin is a faith based titanium coin that is limited in amount by internal characteristics enforced by the laws of mathematics, thermodynamics and the creed of Nakamoto.
Given its rapid rise, growing acceptance and internal characteristics, Bitcoin has managed to terrify governments, atheists and the religious all at once.
by A7Z July 29, 2014
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6
Imaginary and non-existent pseudo-currency that is worthless on its own until you can convince some douche bag to buy it from you and trade it for actual currency or goods. Can be defeated by an electrical outage, hard drive failure, or just a low volume of other people trading their Bitcoins at the same time.
Randy said, "I went to buy coffee with my Bitcoins the other day and it took three hours for the transaction to be approved. I was late for work because of that and the coffee was fucking cold."
Adam replied, "I kept my Bitcoins on my phone. I bought them at $18,000 a piece thinking I could make real money with it but the price keeps tanking and going all over the place.... then someone stole my fucking phone."
Jake laughed, "hahaha, can I loan you a few dollars?"
via giphy
by Nutzen YerMouf March 07, 2018
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