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The traditional banking system, user privacy is guaranteed the right to financial privacy protection law, and this is achieved by limiting access to information to the parties and a trusted third party.
In the Bitcoin system privacy is achieved not when determining the owners of Bitcoin addresses while doing other business data to the public.
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Bitcoin is a software-based online payment by Satoshi Nakamoto In 2008, the system described in , and the introduction of open source software in 2009 Public Ledger payments are recorded using your own unit of account, also called Bitcoin. Payments to work in peer-to-peer without a central repository, or one of the administrators, which led the US Treasury to call for a decentralized virtual currency Bitcoin. Despite its status as a currency, is disputed, the media often referred to as cryptocurrency Bitcoin and digital currency. Bitcoin is the first to fully implement the decentralized cryptocurrency; Other similar and cryptocurrencies inferred. It is also the largest of the total market value of cryptocurrency.
Getting coins
Successful miners find new block is rewarded with a newly Bitcoin and transaction costs. As of 2014, the compensation amounts to 25 newly created one Bitcoin block chain attached to the block. Request a fee, called a special deal coinbase is included with payments processed. All Bitcoin in circulation can be traced back to these coinbase darījumiem.Bitcoin the protocol provides that the consideration for the addition of the block will be halved approximately every four years. In the end, the reward will be removed entirely, if arbitrary boundary 21 million Bitcoin is reached c. 2140, and transaction processing will be rewarded with transaction fees that only. Paying a transaction fee is optional but can speed up the approval of the transaction Paying incentive to include such fees, because doing so means that the transaction is likely to be added to the block chain faster .; miners can choose which bargaining process, and prefer to include them pay.
Owning bitcoin
For each transaction recorded in the output circuit block address to which the output is difficult. To use the output of the forward transaction is the person digitally signing the transaction using the corresponding private key. This prevents unauthorized transfers, because only the user knowing the private key can sign the deal. The network can verify the signature using the public key.

If the private key is lost, Bitcoin network will not recognize any other proof of ownership; the lost coin, and it can not be recovered. For example, in 2013, one user said he lost 7,500 Bitcoin, worth $ 7.5 million when he throws hard drive containing his private key.