GC&CL Blog Post 5:What is Bitcoin

Bitcoin is a kind of electronic encrypted currency, which is centralized, universal, without the need of third party organizations or individuals, and based on block chain as payment technology.

How to keep the wallet safe，there"s a thing that calls private key to prove the ownership of bitcoin ，without the private key, it can"t recognize the ownership of the network you can"t use bitcoin and it stores all the transaction histories in the blockchain, so that every can see the record to make sure that there"s no problem.

I think that it still not that safe to use the bitcoin，the problem is that in the online world there are all datas if one day someone hacked into your computer and take all your stuff away，they are all virtual datas how do you trace it back，using the real currency is more safty some one robbed you you can report to the police station，but if it on the network you maybe still go to find the police but what can they do to look for the camera to see where you been robbed ？that impossible，I think that only if the national currency become virtual all the transaction digitization the government start to importance the safety of the virtual transaction then it would be more safe and easier for us to use virtual currency.