Traditional currencies operate on a centralized model that is heavily regulated by the national government that issues it. Bitcoin, however, is a decentralized virtual currency that was created in 2008-2009 by a mysterious figure known only as Satoshi Nakamoto. In recent years, its growing popularity has caused its value to skyrocket. Bitcoin is not regulated by any centralized institution, but rather by the vast peer-to-peer network that enables it to exist and function. This keeps it from being manipulated and/or used to support the interests of a few wealthy, elite individuals in power. In this way, it functions as a "people's currency". There is a lot of hype surrounding Bitcoin. It has been featured in news and periodical articles, as well as television shows. It seems to be a buzzword that is quickly becoming embedded in popular culture. Many people have heard of it and know that it is a "virtual currency," but what does that mean?Bitcoin is used in countries all around the world. Some countries, such as Japan and Switzerland, are openly embracing it and supporting it with government policies that accept it. Other countries, such as the United States, are trying to find ways to regulate it, while others, such as China, have entirely banned any transactions that use Bitcoin, under penalty of imprisonment. Because it is such a far-reaching global phenomenon - and continuing to grow by the day - anyone would do well to understand exactly what it is. Bitcoin is safer than many other financial systems because it is not subject to regulation or manipulation, and because its underlying system, blockchain, is inherently resistant to hacks and security security breaches that plague other financial institutions. However, there have been infamous hacks of Bitcoin wallets, in which people lost large quantities of money. Among other things, this audiobook will help you know with confidence how you can remain safe and secure on the Bit 1. Language: English. Narrator: Dean Eby. Audio sample: http://samples.audible.de/bk/acx0/093528/bk_acx0_093528_sample.mp3. Digital audiobook in aax.