https://www.google.com/amp/s/www.coi...-year-old/amp/

@Mark TKO above you will find a simplified explanation. It's a decentralized currency traded betwixt people with no central bank backing it. I'm surprised so many have not heard of it. When it started it was literally a fraction of a penny. Five dollars invested seven years ago would be worth over a million today. That's no bullshit. Currently this shit is blowing away the returns on the best stocks, mind you I've seen it go from 7,000 to 5,000 three weeks ago and today it's 9,777. Please note I'm not telling anyone or even suggesting you put money in it. I'm just saying look at it, the whole concept of currency with no central bank is an amazing thing. This has been more of a young persons thing. One theory is if the next generation does manage to bring Bitcoin into a widely excepted currency on coin could be worth 190,000. Others say it's a Ponzi scheme and will be worth nothing.

I personally don't know. The Bitcoin pros say it isn't a fiat currency but it is not backed by gold. From what I can tell the real value of Bitcoin is the confidence of people who buy it which to me is fiat. The block chain running Bitcoin is intense. Government and financial institution are adopting it as we speak IBM is one of the top business's in blockchain