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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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Oct 3 Word of the Day
I couldn’t care less (but one must keep up appearances, right?)
Frenemy has a family tragedy. "Thoughts and prayers."
by November 05, 2018
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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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4
Hashcash extended with inflation control.
"Bitcoin is hashcash extended with inflation control " - Adam Back
by HODL December 29, 2016
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6
A currency, typically used among the Gods, used not to pay for anything, but to flaunt your wealthful status.
Hey, by the way did I mention that I have BITCOIN!?!?!?!?
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by Cryptolad February 14, 2018
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