Can someone please explain how BitCoin workls?

BITCOIN, the world’s “first decentralised digital currency”, was launched in 2009 by a mysterious person (or persons) known only by the pseudonym Satoshi Nakamoto.

It has been in the news this week as the value of an individual Bitcoin, which was just $20 at the beginning of February, hit record highs above $250, before falling abruptly to below $150 on April 11th. What exactly is Bitcoin, and how does it work?

Unlike traditional currencies, which are issued by central banks, Bitcoin has no central monetary authority. Instead it is underpinned by a peer-to-peer computer network made up of its users’ machines, akin to the networks that underpin BitTorrent, a file-sharing system, and Skype, an audio, video and chat service. Bitcoins are mathematically generated as the computers in this network execute difficult number-crunching tasks, a procedure known as Bitcoin “mining”.

The mathematics of the Bitcoin system were set up so that it becomes progressively more difficult to “mine” Bitcoins over time, and the total number that can ever be mined is limited to around 21m. There is therefore no way for a central bank to issue a flood of new Bitcoins and devalue those already in circulation.

Bitcoin is a digital currency that solves many problems, too many to count, but it's more secure than credit cards, safer to use, not anonymous but a lot more anonymous than credit cards, your bitcoins cannot be duplicated/stolen, there is no inflation, there is a public ledger, and so on. Here is a basic video and explanation that might help too: http://bitcoinx.io/what-is-bitcoin

The advantage of Bitcoin is growing monthly. many companies are now accepting Bitcoin. As for companies that don't accept Bitcoin yet, there are gift cards for common restaurants and stores, I use them to buy Pizza and could go grocery shopping with the gift cards. Companies are now creating debit cards for your Bitcoin Wallet. Is it Secure? It is as secure as your money in the bank. you also have the option of having your Bitcoin in cold storage (like putting them under your mattress) so to speak. I don't see any disadvantages of Bitcoin for a user.

Bitcoin is an e-currency that brings cheaper ways for businesses to allow consumers to make purchases. It also acts as investment property for people to try and earn an extra income.

I agree with you that the currency has its pros and cons. Less so, you need to have a powerful computer to run. But plus much more. Firstly it is trading, and secondly is constantly rising rate. Here you can learn more about Bitcoin http://mining-profit.com/bitcoin more detail.

bitcoin is just like other ecurrency, but it is intervened or regulated by any institution. it is very simple n easy to use

For all informations go there: www.prepaidbitco.in