What is Bitcoin?

[Amanda2015]

What is Bitcoin? Essentially, like HTTP or Bittorrent, it is a protocol based on Internet and an invention of genius, which makes unthinkable things possible.
In real life, it is said to be a government-free utopia, and also a big revolution in human history of economy; besides, it is regarded as the technological creation of genius and an open-source software with many defections; furthermore, it is used to be a tool of investment or speculation, and be regarded as the untouchable rat poison as well.
Due to different background and views of problem, each one has different understanding of Bitcoin. Gates said it was a technological work, while Munger said it was an untouchable rat poison. In some way, what they speak about can be justified. My only hope is that everyone won’t say Bitcoin a fraud. Don’t you think it illiterate to say so?

[MicroGuy]

Bitcoin is currently a rudderless ship about to crash into a regulatory iceberg.

[zero01]

Well it is very reasonable, everyone has their own opinion in terms of bitcoin, referred to me

[edric]

What is Bitcoin? Essentially, like HTTP or Bittorrent, it is a protocol based on Internet and an invention of genius, which makes unthinkable things possible.
In real life, it is said to be a government-free utopia, and also a big revolution in human history of economy; besides, it is regarded as the technological creation of genius and an open-source software with many defections; furthermore, it is used to be a tool of investment or speculation, and be regarded as the untouchable rat poison as well.
Due to different background and views of problem, each one has different understanding of Bitcoin. Gates said it was a technological work, while Munger said it was an untouchable rat poison. In some way, what they speak about can be justified. My only hope is that everyone won’t say Bitcoin a fraud. Don’t you think it illiterate to say so?

I think these people who spoke negatively of Bitcoin probably didn't understand it.  Munger stays away from technology generally.  I think it is a great revolution but also think fiat currencies will eventually adopt many of the qualities of Bitcoin.

[Amph]

nothing more than a p2p client that transfer data which has value, it's exactly like bittorrent, where the torrent yourecieve are worth something, but in that case no one will pay because, they can download them for free

you can compare it to a miner which work with free electricity and has equipments that he did not pay, free coins

[Lauda]

Bitcoin is currently a rudderless ship about to crash into a regulatory iceberg.

Stop spreading FUD expecting that any altcoin is going to succeed. If Bitcoin dies, then so does every other coin along with it. Regulation does not harm Bitcoin.
There are many definitions of what Bitcoin is. Some just call it a protocol. Others call it a digital currency, cryptocurrency. Some call it digital gold and some call it a revolution. In my opinion there isn't a single way of defining Bitcoin because Bitcoin is just so many things at once. Whoever says that "Bitcoin is a fraud" is just very ignorant and should be completely ignored.

[8831288]

Bitcoin is money.

[Betwrong]

What is Bitcoin? Essentially, like HTTP or Bittorrent, it is a protocol based on Internet and an invention of genius, which makes unthinkable things possible.
In real life, it is said to be a government-free utopia, and also a big revolution in human history of economy; besides, it is regarded as the technological creation of genius and an open-source software with many defections; furthermore, it is used to be a tool of investment or speculation, and be regarded as the untouchable rat poison as well.
Due to different background and views of problem, each one has different understanding of Bitcoin. Gates said it was a technological work, while Munger said it was an untouchable rat poison. In some way, what they speak about can be justified. My only hope is that everyone won’t say Bitcoin a fraud. Don’t you think it illiterate to say so?

Agreed. To say "Bitcoin a fraud" is absolutely illiterate. I like what John McAfee said about Bitcoin: "You can't stop things like Bitcoin. It will be everywhere and the world will have to readjust. World governments will have to readjust".
And one more great quote about BTC:

"Bitcoin is a remarkable cryptographic achievement and the ability to create something that is not duplicable in the digital world has enormous value" - Eric Schmidt, CEO of Google

[LiteCoinGuy]

Bitcoin is money.

No, a commodity!

[ikydesu]

https://bitcoin.org/bitcoin.pdf

Bitcoin is money.

No, a commodity!

It's both.

[cjmoles]

Bitcoin is the beginning of an economic revolution.  As simple as the concept seems, at first, it is opening the doors to possibilities unimaginable with the concepts that existed before its genesis.  While bitcoin might not be the end-all crypto-token, it has, and it will, change the way the world does their banking.  Banks will incorporate the blockchain technology and countries will adopt it.  There may even be a time where we can't even buy and sell unless we hold that private key...on bio-chips, on smart-phones, or futuristically...encoded within our fingerprints and irises.  Blockchain technology is the future of banking for sure.  It's very exciting, to say the least!

[addy boy]

bitcoin is a digital currency it price change every day its price incearse and decrease daily Bitcoin  is system invented by Satoshi Nakamoto no controls on bitcoin you can produce bitcoin by mining

[Mickeyb]

Here, take a look into this thread. There are many more posts and you will get a better explanation on what Bitcoin really tries to achieve.

https://bitcointalk.org/index.php?topic=1187739.msg12531712#msg12531712

[Ceizer54]

Bitcoin is great..it's 3 things..money,commodity,technology
You won't find anything other which offers so less fees
but one thing which affraids me is bitcoin will collapse and is it really a bubble which will burst?
Nothing lasts forever

[TTMNewsMJ]

Bitcoin is about "money and technology."

[CryptoTrout]

Bitcoin is a decentralized consensus system and bitcoin is the token required to use it.

[LiteCoinGuy]

https://bitcoin.org/bitcoin.pdf

Bitcoin is money.

No, a commodity!

It's both.

Crazy shit!

[Denker]

Bitcoin is about "money and technology."

It is way more. It's also about personal freedom and having a choice.Something you don't have with traditional form of money.
Being able to be my own bank and sending around my money where ever and when ever I want without any intermediaries is one of the greatest achievements in today's times of the digital age.