0_Wizard
Everyone is starting to believe that bitcoin is the future worldwide payment system. 
Bitcoin is a cryptocurrency and worldwide payment system.
chosen_Bitcoin_0
Bitcoin
chosen_topic_0_Bitcoin
Bitcoin
Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator. The network is peer-to-peer and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes through the use of cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in 2009. Bitcoins are created as a reward for a process known as mining.
Economics of bitcoin
Bitcoin is a digital asset designed by its inventor, Satoshi Nakamoto, to work as a currency. Bitcoin is a digital asset designed by its inventor, Satoshi Nakamoto, to work as a currency. It is commonly referred to with terms like: digital currency, digital cash, virtual currency, electronic currency, digital gold, or cryptocurrency. The question whether bitcoin is a currency or not is still disputed. Bitcoins have three useful qualities in a currency, according to "The Economist" in January 2015: they are "hard to earn, limited in supply and easy to verify". Economists define money as a store of value, a medium of exchange, and a unit of account and agree that bitcoin has some way to go to meet all these criteria.
History of bitcoin
Bitcoin is a cryptocurrency, a digital asset designed to work as a medium of exchange that uses cryptography to control its creation and management, rather than relying on central authorities. The presumed pseudonymous Satoshi Nakamoto integrated many existing ideas from the cypherpunk community when creating bitcoin. Over the course of bitcoin's history, it has undergone rapid growth to become a significant currency both on and offline - from the mid 2010s onward, some businesses on a global scale began accepting bitcoins in addition to standard currencies. Prior to the release of bitcoin there were a number of digital cash technologies starting with the issuer based ecash protocols of David Chaum and Stefan Brands.
Bitcoin network
The bitcoin network is a peer-to-peer payment network that operates on a cryptographic protocol. Users send and receive bitcoins, the units of currency, by broadcasting digitally signed messages to the network using bitcoin cryptocurrency wallet software. Transactions are recorded into a distributed, replicated public database known as the blockchain, with consensus achieved by a proof-of-work system called "mining". Satoshi Nakamoto, the designer of bitcoin claimed that design and coding of bitcoin begun in 2007. The project was released in 2009 as open source software. The network requires minimal structure to share transactions.
Virtual currency law in the United States
United States virtual currency law is the area of financial regulation that applies to the buyers, sellers, and users of virtual currency. This regulatory structure consist of tax regulations and FINCEN transparency regulations between financial exchanges and the individuals and corporations with whom they conduct business. The Internal Revenue Service (I.R.S) describes Virtual Currencies (VC)s as “a digital representation of value that functions as a medium of exchange, a unit of account, and/or a store of value [and] does not have legal tender status in any jurisdiction.” Although, electronic payment systems have been part of American life since at least 1871 when Western Union “introduced money transfer” through the telegraph and in 1914 “introduced the first consumer charge-card," virtual currencies differ from these digital payment structures because unlike traditional digital transfers of value, virtual currencies do not represent a claim on value; rather the virtual currency are the value.
Blockchain
A blockchain, originally block chain, is a continuously growing list of records, called "blocks", which are linked and secured using cryptography. Each block typically contains a cryptographic hash of the previous block, a timestamp and transaction data. By design, a blockchain is inherently resistant to modification of the data. It is "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way". For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for validating new blocks.
BitPay
BitPay is a global bitcoin payment service provider headquartered in Atlanta, Georgia, United States. It was founded in May 2011 by Tony Gallippi and Stephen Pair. BitPay provides bitcoin payment processing services for merchants, and is one of the largest bitcoin payment processors. In 2014, BitPay started processing US$1 million daily. In 2014, BitPay announced partnerships with merchants including Microsoft, NewEgg, TigerDirect, and Warner Bros. Records. In the same year, BitPay also partnered with payment systems operator PayPal as well as merchant acquirers such as Global Payments and Alternet Systems.
1_Apprentice
I dont really know much about it.  Can you explain it more to me?
0_Wizard
It is a digital currency it works without a bank or administrator I signed up with a stock bond that uses bitcoin only.
It is the first decentralized digital currency, as the system works without a central bank or single administrator.
chosen_Bitcoin_0
Bitcoin
chosen_topic_0_Bitcoin
Bitcoin
Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator. The network is peer-to-peer and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes through the use of cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in 2009. Bitcoins are created as a reward for a process known as mining.
Digital currency
Digital currency (digital money or electronic money or electronic currency) is a type of currency available only in digital form, not in physical (such as banknotes and coins). It exhibits properties similar to physical currencies, but allows for instantaneous transactions and borderless transfer-of-ownership. Examples include virtual currencies and cryptocurrencies or even central bank issued "digital base money". Like traditional money, these currencies may be used to buy physical goods and services, but may also be restricted to certain communities such as for use inside an on-line game or social network.
History of bitcoin
Bitcoin is a cryptocurrency, a digital asset designed to work as a medium of exchange that uses cryptography to control its creation and management, rather than relying on central authorities. The presumed pseudonymous Satoshi Nakamoto integrated many existing ideas from the cypherpunk community when creating bitcoin. Over the course of bitcoin's history, it has undergone rapid growth to become a significant currency both on and offline - from the mid 2010s onward, some businesses on a global scale began accepting bitcoins in addition to standard currencies. Prior to the release of bitcoin there were a number of digital cash technologies starting with the issuer based ecash protocols of David Chaum and Stefan Brands.
Economics of bitcoin
Bitcoin is a digital asset designed by its inventor, Satoshi Nakamoto, to work as a currency. Bitcoin is a digital asset designed by its inventor, Satoshi Nakamoto, to work as a currency. It is commonly referred to with terms like: digital currency, digital cash, virtual currency, electronic currency, digital gold, or cryptocurrency. The question whether bitcoin is a currency or not is still disputed. Bitcoins have three useful qualities in a currency, according to "The Economist" in January 2015: they are "hard to earn, limited in supply and easy to verify". Economists define money as a store of value, a medium of exchange, and a unit of account and agree that bitcoin has some way to go to meet all these criteria.
Ripple (payment protocol)
Ripple is a real-time gross settlement system (RTGS), currency exchange and remittance network by Ripple. Also called the Ripple Transaction Protocol (RTXP) or Ripple protocol, it is built upon a distributed open source Internet protocol, consensus ledger and native cryptocurrency called XRP (ripples). Released in 2012, Ripple purports to enable "secure, instantly and nearly free global financial transactions of any size with no chargebacks." It supports tokens representing fiat currency, cryptocurrency, commodity or any other unit of value such as frequent flier miles or mobile minutes. At its core, Ripple is based around a shared, public database or ledger, which uses a consensus process that allows for payments, exchanges and remittance in a distributed process.
Virtual currency
Virtual currency, also known as virtual money, is a type of unregulated, digital money, which is issued and usually controlled by its developers (Bitcoin is an exception), and used and accepted among the members of a specific virtual community. The Financial Crimes Enforcement Network (FinCEN), a bureau of the US Treasury, defined virtual currency in its guidance published in 2013. In 2014, the European Banking Authority defined virtual currency as "a digital representation of value that is neither issued by a central bank or a public authority, nor necessarily attached to a fiat currency, but is accepted by natural or legal persons as a means of payment and can be transferred, stored or traded electronically".
Blockchain
A blockchain, originally block chain, is a continuously growing list of records, called "blocks", which are linked and secured using cryptography. Each block typically contains a cryptographic hash of the previous block, a timestamp and transaction data. By design, a blockchain is inherently resistant to modification of the data. It is "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way". For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for validating new blocks.
1_Apprentice
Ok interesting.  So is like a modern day stocks and shares?
0_Wizard
Yes that is one of the ideas behind bitcoin it was also created for products and services as well.
Bitcoins are created as a reward for a process known as mining.
chosen_Bitcoin_0
Bitcoin
chosen_topic_0_Bitcoin
Bitcoin
Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator. The network is peer-to-peer and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes through the use of cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in 2009. Bitcoins are created as a reward for a process known as mining.
History of bitcoin
Bitcoin is a cryptocurrency, a digital asset designed to work as a medium of exchange that uses cryptography to control its creation and management, rather than relying on central authorities. The presumed pseudonymous Satoshi Nakamoto integrated many existing ideas from the cypherpunk community when creating bitcoin. Over the course of bitcoin's history, it has undergone rapid growth to become a significant currency both on and offline - from the mid 2010s onward, some businesses on a global scale began accepting bitcoins in addition to standard currencies. Prior to the release of bitcoin there were a number of digital cash technologies starting with the issuer based ecash protocols of David Chaum and Stefan Brands.
CryptoNote
CryptoNote is an application layer protocol that powers several decentralized privacy oriented digital currencies. It aims to be an evolution of the ideas behind Bitcoin. The main difference between the two technologies is that Bitcoin (and most digital currencies) is less opaque than CryptoNote-based currencies due to the latter's blockchain being almost anonymous, contrary to non-Cryptonote blockchains. CryptoNote currencies use a distributed public ledger that records all balances and transactions of its in-built currency like Bitcoin. Unlike Bitcoin, CryptoNote's transactions cannot be followed through the blockchain in a way that reveals who sent or received coins.
Economics of bitcoin
Bitcoin is a digital asset designed by its inventor, Satoshi Nakamoto, to work as a currency. Bitcoin is a digital asset designed by its inventor, Satoshi Nakamoto, to work as a currency. It is commonly referred to with terms like: digital currency, digital cash, virtual currency, electronic currency, digital gold, or cryptocurrency. The question whether bitcoin is a currency or not is still disputed. Bitcoins have three useful qualities in a currency, according to "The Economist" in January 2015: they are "hard to earn, limited in supply and easy to verify". Economists define money as a store of value, a medium of exchange, and a unit of account and agree that bitcoin has some way to go to meet all these criteria.
Satoshi Nakamoto
Satoshi Nakamoto is the name used by the unknown person or people who designed bitcoin and created its original reference implementation. As part of the implementation, they also devised the first blockchain database. In the process they were the first to solve the double-spending problem for digital currency. They were active in the development of bitcoin up until December 2010. On a P2P Foundation profile, Nakamoto claimed to be a man living in Japan, born on 5 April 1975. Speculation about the true identity of Nakamoto has mostly focused on a number of cryptography and computer science experts of non-Japanese descent, living in the United States and Europe.
Bitcoin network
The bitcoin network is a peer-to-peer payment network that operates on a cryptographic protocol. Users send and receive bitcoins, the units of currency, by broadcasting digitally signed messages to the network using bitcoin cryptocurrency wallet software. Transactions are recorded into a distributed, replicated public database known as the blockchain, with consensus achieved by a proof-of-work system called "mining". Satoshi Nakamoto, the designer of bitcoin claimed that design and coding of bitcoin begun in 2007. The project was released in 2009 as open source software. The network requires minimal structure to share transactions.
Virtual currency law in the United States
United States virtual currency law is the area of financial regulation that applies to the buyers, sellers, and users of virtual currency. This regulatory structure consist of tax regulations and FINCEN transparency regulations between financial exchanges and the individuals and corporations with whom they conduct business. The Internal Revenue Service (I.R.S) describes Virtual Currencies (VC)s as “a digital representation of value that functions as a medium of exchange, a unit of account, and/or a store of value [and] does not have legal tender status in any jurisdiction.” Although, electronic payment systems have been part of American life since at least 1871 when Western Union “introduced money transfer” through the telegraph and in 1914 “introduced the first consumer charge-card," virtual currencies differ from these digital payment structures because unlike traditional digital transfers of value, virtual currencies do not represent a claim on value; rather the virtual currency are the value.
1_Apprentice
What kind of services and products do they offer?
0_Wizard
The main source is work system mining and it is also for digital structure share transactions. 
Transactions are recorded into a distributed, replicated public database known as the blockchain, with consensus achieved by a proof-of-work system called "mining".
self_Bitcoin_network_2
Bitcoin network
self_5_Bitcoin_network
Work systems
Work system has been used loosely in many areas. This article concerns its use in understanding IT-reliant systems in organizations. A notable use of the term occurred in 1977 in the first volume of MIS Quarterly in two articles by Bostrom and Heinen (1977). Later Sumner and Ryan (1994) used it to explain problems in the adoption of CASE (computer-aided software engineering). A number of socio-technical systems researchers such as Trist and Mumford also used the term occasionally, but seemed not to define it in detail. In contrast, the work system approach defines work system carefully and uses it as a basic analytical concept.
Bitcoin network
The bitcoin network is a peer-to-peer payment network that operates on a cryptographic protocol. Users send and receive bitcoins, the units of currency, by broadcasting digitally signed messages to the network using bitcoin cryptocurrency wallet software. Transactions are recorded into a distributed, replicated public database known as the blockchain, with consensus achieved by a proof-of-work system called "mining". Satoshi Nakamoto, the designer of bitcoin claimed that design and coding of bitcoin begun in 2007. The project was released in 2009 as open source software. The network requires minimal structure to share transactions.
Economy of North Korea
North Korea's economy is a centrally planned system, where the role of market allocation schemes is limited, though increasing. Although there have been some small-scale reforms, , North Korea continues its basic adherence to a rigid centrally planned command economy, and its reliance on fundamentally non-pecuniary (not readily quantified or valued in money) incentives. There has been economic reform, particularly after Kim Jong-un assumed the leadership in 2012, but reports conflict over particular legislation and enactment. The collapse of the Eastern Bloc from 1989 to 1991, particularly North Korea's principal source of support, the Soviet Union, forced the North Korean economy to realign its foreign economic relations, including increased economic exchanges with South Korea.
Financial transaction tax
A financial transaction tax is a levy placed on a specific type of monetary transaction for a particular purpose. The concept has been most commonly associated with the financial sector; it is not usually considered to include consumption taxes paid by consumers. A transaction tax is not a levy on financial institutions per se; rather, it is charged only on the specific transactions that are designated as taxable. So if an institution never carries out the taxable transaction, then it will never be subject to the transaction tax. Furthermore, if an institution carries out only one such transaction, then it will only be taxed for that one transaction.
Bitcoin
Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator. The network is peer-to-peer and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes through the use of cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in 2009. Bitcoins are created as a reward for a process known as mining.
Blockchain
A blockchain, originally block chain, is a continuously growing list of records, called "blocks", which are linked and secured using cryptography. Each block typically contains a cryptographic hash of the previous block, a timestamp and transaction data. By design, a blockchain is inherently resistant to modification of the data. It is "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way". For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for validating new blocks.
Peercoin
Peercoin, also known as PPCoin or PPC, is a peer-to-peer cryptocurrency utilizing both proof-of-stake and proof-of-work systems. Peercoin is based on an August 2012 paper which listed the authors as Scott Nadal and Sunny King. Sunny King, who also created Primecoin, is a pseudonym. Nadal's involvement had diminished by November 2013, leaving King as Peercoin's sole core developer. Peercoin was inspired by bitcoin, and it shares much of the source code and technical implementation of bitcoin. The Peercoin source code is distributed under the MIT/X11 software license. Unlike bitcoin, Namecoin, and Litecoin, Peercoin does not have a hard limit on the number of possible coins, but is designed to eventually attain an annual inflation rate of 1%.
1_Apprentice
Its quite confusing to me.  Are there other companies out there that are the same as bitcoin?