Bitcoin is the first cryptocurrency, which was launched in January 2009.
Essentially independent of any central authority, it acts like a queen cryptocurrency, even if its hegemony is continuously under threat.
Bitcoins are stored on electronic wallets and exchanged via electronic addresses (in the form of 14WQpkR3jUIkpY2vB32PC4GYoWZ2vBdrV4), equivalent to bank account numbers.
Bitcoins allow you to send and receive payments at very low costs compared to FIAT currencies.
Both a currency and payment system, the Bitcoin can be used to exchange goods and services.
The value of a Bitcoin depends only on supply and demand, not on the often very artificial price that an issuing — and often unreasonably indebted — government would have given it.
To date, it represents more than half of the global capitalization of cryptocurrencies (more than $200 billion in November 2018) and more than one-third of daily trade. It is also worth noting that Bitcoin, like almost all cryptocurrencies, defined, when it was introduced in 2009, a money supply ceiling that will never be exceeded (21 million Bitcoins — not one more). And the increase in the money supply until this glass ceiling is reached is done gradually.
What is the goal? Limit the risk of hyperinflation and, thus, protect the scarcity of money, much like precious metals.
Rather than criticizing and wrongly accusing Bitcoin of all evils, central bankers, financial and political bankers would do better to take inspiration from it.