There is no such thing as bitcoin

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IN truth there is no such thing as a bitcoin or a wallet, just a concord amidst networkers about possession of a coin. A private key is used to prove ownership of funds to the network when making a transaction. A person needs only their private key inorder to retrieve or spend their virtual cash, a concept which is known as a “brain wallet”(where the user stores his private keys in his memory in the form of a passphrase)

A “brain wallet” refers to where the user stores his private keys, in his memory, in the form of a passphrase

WHAT IS BITCOIN?

Bitcoin is a virtual currency generated to act as money and a form of payment outside the control of any one person, group, or entity, and thus removing the need for third-party involvement in financial transactions.

Bitcoin is a form of digital cash that eliminates the need for state administrations and financial institution such as banks or governments by using a peer-to-peer internet network to confirm purchases directly between users.

Bitcoin is digital asset or digital money that allows secure and seamless peer-to-peer transactions on the internet. It remains the largest by market capitalization and trading volume.

Bitcoin is a decentralized consensus network that enables a peer-to-peer payment system and a completely digital money powered by it's users with no central authority or middlemen. Bitcoin is pretty much like cash for the Internet.

Bitcoin is a distributed digital currency that can be transferred on the peer-to-peer bitcoin network and verified by network nodes through cryptography and recorded in a public distributed ledger called a Blockchain.

BTC is Internet's Cash and remains the largest by market capitalization and trading volume.