#BTCBreaks99K Bitcoin represents a revolutionary, decentralized payment system that utilizes a distributed ledger, peer-to-peer type, without operating under the rules of an official agreement made by a financial institution. What does this imply? Lack of regulations, of constraints that could come from a central authority, from a government.

Payments made with Bitcoin are processed through a private network of computers connected through a common program. Each transaction is recorded simultaneously in a 'blockchain', on each computer that updates and informs all accounts.