What make Bitcoin Special ??

There are many different electronic payment systems, but Bitcoin is special because of these features:

Bitcoin transactions cannot be censored. You can pay anyone in the world at any time you like. You can run your own desktop or mobile wallet with control over your private keys and no one can freeze or confiscate your bitcoins. There is no central organization that can stop you from using your bitcoins as you see fit.

Bitcoin transactions are irreversible. Once a bitcoin transaction has been confirmed enough times – 6 confirmations is the widely accepted number – it cannot be reversed by anyone. This means that when you have received bitcoin there is no risk of payment reversal or payments fraud. The downside to this is that bitcoins that are stolen or accidentally sent to someone cannot be recovered.

It is decentralized. Other payment systems are centralized and governments and powerful groups can exert pressure on the central organization controlling those payment systems to censor transactions, freeze accounts or otherwise restrict the use of the payment system. Bitcoin is not beholden on any central organization. It is a peer 2 peer currency.

It is an open system. Bitcoin is a totally open system. Anyone can buy bitcoins and transfer them to anyone in the world. There are no gatekeepers whose permission you need to get. You can download free and opensource bitcoin wallet software and receive bitcoins to it. There is no need to sign up anywhere or submit personal information.

It is programmable. Computer programs can receive and send bitcoin. Autonomous systems may one day be built that use bitcoin.

It is cheap. Currently sending bitcoins is very cheap. The default transaction fee is just ₨ 4.80 per kilobyte and most transactions are about 200 bytes. The amount of money transferred does not affect the fee, so you can transfer huge amounts at a low fee.

However, while bitcoin itself is an open and unrestricted system the conversion of fiat to bitcoin is often regulated by governments. Once you have your bitcoins though you are totally unrestricted as to what you can do with them.