Bitcoins

Bitcoins are a digital currency created by "Satoshi Nakamoto" (a pseudonym for the actual unknown person) in 2008. Bitcoins function as an Internet-based currency that is equivalent to actual physical currency, such as 1 Bitcoin= almost $900 US dollars. There is a function that keeps private keys and addresses in something called a "wallet", like a typical wallet it keeps hold of money (or Bitcoins, in this case) and various other personal dealings, but in a private sector of the Internet, print-outs, or on hardware, like mobile devices or flash drives. Theft of Bitcoins is not uncommon, though, as it is open to anyone, if they know the right way to get to it. It is thought that Bitcoins are so popular is simply due to its availability of seedy practices, such as the use of things like the Silk Road, where you can buy various illegal things, such as drugs or guns. Like all things, Bitcoins do come from somewhere: It comes from various people who take the time to construct them for the masses, but in compensation, they get their own fresh mint Bitcoins transactions as a reward.

Most sources consider it a viable source of new currency, but discredit it due to its use in illegal activity and how it cannot be monitored by the banks/governments; despite that, many critics praise the way it came into being, and support it existing, even if there are some problems they would prefer to be sorted out.