What is Bitcoin?

Bitcoin is a digital currency
Bitcoin came to life in January 2009
The creation and transfer of Bitcoin is based on a cryptographic protocol
All Bitcoin transactions are recorded in a public ledger called the block chain
Bitcoins are transferred through a peer to peer network
You can store your Bitcoins in a digital wallet
Mining is the process by which new Bitcoins are created
The number of Bitcoin is limited to 21.0 million
Each Bitcoin has 8 decimals which means that in total there are 2.1 × 1015 or 2.1 quadrillion currency units
Until today about 11.5 million Bitcoins have been mined

Advantages of Bitcoin as a currency:
Fast money transfer
Very low cost money transfer
Frictionless international money transfer
No charge-backs
No double spending
No money printing possible