Bitcoin, the significance of Bitcoin and what it represents is different depending on who you ask. Some see it as a currency, others see it as an asset class to invest in and others still view it as a wealth transfer from the old monetary system to the new monetary system. Legally, it's not even clear to regulators what Bitcoin should be classed as. Despite this, there's been a huge mania around the cryptographic currency recently. So what is it? Roughly speaking Bitcoin is a new form of secure currency that doesn't need a bank government agency or only middleman to operate. The people within the system just carry out transactions among themselves in what's called a decentralized network or blockchain.
