Can anyone explain to me in simple terms what bitcoin is?

Philippines
October 13, 2017 5:41am CST
I am curious as to what bitcoin is, and what it's all about. There's a plethora of info online, but I find myself perplexed after reading it. Any help is appreciated. Thanks
2 people like this
2 responses
Pinay Ako
@AkoPinay (11544)
• Philippines
13 Oct 17
Bitcoin is a VIRTUAL currency or INTERNET/DIGITAL MONEY but officially defined as COMMODITY like oil/gold. We could earn Bitcoin thru (1) mining (2) trading (3) free from faucets/gaming/etc. I prefer buying/selling. I claim FREE coins at MOON faucets, BitFun.com and play games when I am not busy. Other countries do not support CryptoCurrency. I am glad Philippines is a CryptoCurrency-friendly country. We can use Bitcoin Wallet like coins.ph as alternative to PayPal. I love Bitcoin because sending/receiving funds is much CHEAPER & FASTER than PayPal, Bank Wire and any other payment methods.
Bojel
@jobelbojel (34729)
• Philippines
13 Oct 17
It is an online currency. You can invest money to grow your bitcoin or manually claim it on sites that offer satoshi (to be exchanged for bitcoin)/