What are the currency of the electronic composition?

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Germany is the only country to have officially recognized currency Bitcoin as a sort of electronic money ( the gate)
Must configure electronic currency Bitcoin name has passed on a lot of readers observers private technical news of them, but without a full briefing what the composition or method of use and how they work.
Simplistically, the composition of the electronic money can be compared to other currencies such as the dollar or the euro, but with several key differences, notably that this currency is fully electronic money trading online only without the presence of a physicist.
Also differ from traditional currencies that there is no central regulatory body behind it, but can be used like any other currency to buy online or even converted to traditional currencies.
Organizers say configures The aim of this currency raised for trading for the first time in 2009 is changing the global economy in the same way that changed their methods of Web publishing. It bases this coin and how do they work?
Currency decentralized
Ask a person who called himself the code name Satoshi Nakamato idea of ​​the composition for the first time in a research paper, and described it as a letter monetary system depends on financial transactions on the principle of peer-to-peer, which is a technical term meaning the direct interaction between the user and another without the presence of a mediator.
It described the composition as being of anonymity digital currency, meaning they do not have a record sequential nor any other means of any kind allows keeping track of what was spent to get to the seller or the buyer, making them a popular idea among both privacy advocates, or sellers of goods illegal ( such as drugs) online alike.
The composition of the financial transactions between the two people directly without an intermediate body governing these transactions, where you go money from one user account to another in real time and without the presence of any transfer fee and without going through any banks or any intermediaries of any kind.
Bitcoin spending
Although there are a relatively limited group of sites that accept payments Bitcoin to meet with their products, compared with sites that deal traditional currencies, the composition supported by a growing group of sites, including companies large and diverse locations, such as the sale of sites hosting services and reservation of domain names, social networking sites and video and music various sites that sell different types of products.
A federal judge in the United States has recently ruled that the Bitcoin is a currency and the kind of criticism, and may be subject to government regulation, but the United States did not recognize officially the currency after " "
In addition to purchasing products, the user can switch configures cut cash in other currencies has real. This switch takes place between the users themselves who wish to sell amounts configure and purchase of currencies against which real or vice versa.
As a result, the composition has the exchange rate of its own, and is heading this price to rise, as up to $ 120 a day after it was equivalent to only a few dollars two years ago.
International Recognition
Germany is the only country to have officially recognized the currency of the composition as a sort of electronic money, and that the German government considered that it can impose a tax on profits made by companies that do business with "configure", while individual financial transactions remain exempt from taxes.
The federal judge in the United States has recently ruled that the composition of the currency and the kind of criticism, and may be subject to government regulation, but the United States has not yet officially recognized currency.
Some argue that the official recognition has a positive side, which is to give the currency greater legitimacy, while others think that this could open the door to further regulate the currency and linked to governments, and this is contrary to one of the features of the composition of the currency is not subject to any party.